FTX’s Bankers, Endorsers Should Face Class Suits, Lawyers Argue

Financiers and celebrity endorsers of the failed FTX cryptocurrency exchange should face consolidated class-action lawsuits over the billions lost in the meltdown of Sam Bankman-Fried’s digital-asset empire, investors’ lawyers argued Thursday.

Venture capital and private equity firms including Sequoia Capital Operations LLC and Thoma Bravo LLC – along with sports icons such as ex-NFL quarterback Tom Brady, former Boston Red Sox slugger David Ortiz and ex-NBA center Shaquille O’Neal – should face a single judge overseeing allegations they enabled Bankman-Fried’s alleged fraud, attorneys for crypto investors told a panel of federal judges.

While FTX sought Chapter 11 protection ...