FTX’s Celebrity, VC Backers to Face Consolidated Suits in Miami

Lawsuits against FTX’s financial backers and celebrity endorsers by customers of the failed cryptocurrency exchange were consolidated before a single federal judge in Florida.

A judicial panel on Monday ordered the creation of a multi-district litigation before US District Judge K. Michael Moore in Miami, noting that the company had its US headquarters there before filing for bankruptcy.

Customers have filed several class actions against venture capital and private equity firms including Sequoia Capital and Thoma Bravo that invested in FTX, claiming they enabled co-founder Sam Bankman-Fried, who is facing fraud stemming from the exchange’s collapse. Celebrities that endorsed FTX, ...