The Golden State Warriors are being sued by a former customer of FTX, who accused the NBA franchise of fraudulently promoting the now-collapsed crypto exchange, Reuters reported.
Elliott Lam, a Canadian resident of Hong Kong, filed a lawsuit against the team in a San Fransisco federal court on Monday. According to a copy of the lawsuit obtained by Insider, Lam is reportedly seeking $5 million in damages as part of a class-action settlement for "thousands, if not millions, of consumers internationally" that he claimed had been scammed by FTX.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
5 low ratings cartoons about the Late Show cancellationCartoons Artists take on early warning signs, the Gen Z stare, and more
-
Connie Francis: Superstar of the early 1960s pop sceneIn the Spotlight The 'Pretty Little Baby' and 'Stupid Cupid' singer has died aged 87
-
Crossword: July 26, 2025The Week's daily crossword puzzle
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
'Wrench attacks' are targeting wealthy crypto mogulsThe Explainer The attacks are named for physical coercion that can be used to gain crypto passwords
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
