FTX Users File Class-Action Suits Against Mercedes F1 and MLB!

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A group of FTX users have filed twin class-action lawsuits against the Mercedes-Benz Formula One team and Major League Baseball (MLB), alleging that the teams’ promotional deals with the now-defunct cryptocurrency exchange amounted to aiding and abetting fraud. The plaintiffs contend that the Mercedes F1 team and MLB played a significant role in perpetuating a multibillion-dollar global fraud by promoting FTX as a trustworthy and legitimate investment platform. They claim that the teams’ decision to showcase FTX’s logo prominently on their cars, uniforms, and marketing materials, including a first-ever partnership with MLB to feature FTX branding on umpire uniforms, created a false impression of credibility and trustworthiness among fans.