Current：Home > MySafeX Pro Exchange|NBA sued by investors over ties to failed crypto exchange Voyager -MoneySpot
SafeX Pro Exchange|NBA sued by investors over ties to failed crypto exchange Voyager
Robert Brown View
Date：2025-04-09 09:42:25
The SafeX Pro ExchangeNational Basketball Association is being sued for its promotion of defunct crypto exchange Voyager Digital Holdings, which investors allege led to losses of more than $4.2 billion.
The NBA was "grossly negligent" for approving a marketing deal between Voyager and the Dallas Mavericks, according to lawsuit filed Tuesday in a Miami district court. "The NBA's widespread promotion of Voyager's unregistered securities renders it liable for any and all resulting damages."
The suit also names Voyager's law firm, McCarter & English, alleging it used its credibility to assure investors that Voyager's offerings were "entirely above board," the document contends.
The same group in 2022 sued Mark Cuban, the former owner of the Mavericks, claiming he misled them about Voyager. Cuban denied the allegations.
Voyager filed for bankruptcy in July 2022 due to exposure to the failed crypto hedge fund Three Arrows Capital.
The NBA and McCarter & English did not immediately respond to a request for comment.
Kate GibsonKate Gibson is a reporter for CBS MoneyWatch in New York.
veryGood！ (6656)
Related
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Barstool Sports’ Dave Portnoy Slams Rumors He’s Dating VPR Alum Raquel Leviss
- Giving back during the holiday season: What you need to know to lend a helping hand
- Paris Hilton Details “Beautiful” New Chapter After Welcoming Baby No. 2 With Carter Reum
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Texas CEO and his 2 children were among 4 killed in wreck before Thanksgiving
- Hamas to release second group of Israeli hostages after hours-long delay, mediators say
- Indigenous approach to agriculture could change our relationship to food, help the land
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- 5-year-old girl dies, search suspended for man swept out by California wave: Coast Guard
Ranking
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Barstool Sports’ Dave Portnoy Slams Rumors He’s Dating VPR Alum Raquel Leviss
- Selena Gomez Debuts Blonde Highlights in Rare Hair Transformation
- A growing series of alarms blaring in federal courtrooms, less than a year before 2024 presidential election
- The company planning a successor to Concorde makes its first supersonic test
- Taylor Swift Meets Family of Fan Who Died in Brazil
- Beyoncé Reveals Blue Ivy Carter’s Motivation for Perfecting Renaissance Dance Routine
- Putin signs Russia’s largest national budget, bolstering military spending
Recommendation
The White House is cracking down on overdraft fees
Selena Gomez Debuts Blonde Highlights in Rare Hair Transformation
Kenya raises alarm as flooding death toll rises to 76, with thousands marooned by worsening rains
Beijing police investigate major Chinese shadow bank Zhongzhi after it says it’s insolvent
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
McDonald's biggest moneymaker isn't its burgers. The surprising way it earns billions.
Marty Krofft, 'H.R. Pufnstuf' and 'Donny & Marie' producer, dies of kidney failure at 86
Merriam-Webster picks 'authentic' as 2023 word of the year