A few days ago, crypto exchange FTX had to declare bankruptcy, which is primarily bad news for all those investors who have invested in FTX. Now, however, a class action lawsuit has been filed in Miami that could have wider implications. Namely also in entertainment and sports circles, as reported by the Associated Press.

The class action lawsuit also includes claims for damages against NFL superstar Tom Brady, who made a guest appearance in Munich with his Tampa Bay Buccaneers last Sunday, and against Naomi Osaka. The four-time Grand Slam winner, like Brady, has promoted FTX.

The initial situation is interesting. The lawsuit states that part of FTX's strategy was to involve some of the biggest names in sports and entertainment - such as Brady and Osaka - to raise money and entice American consumers to invest. There will soon be a hearing in the US House of Representatives.

It remains to be seen whether the lawsuit will succeed. If so, then it will probably be difficult in the future to find celebrities willing to use their name to promote products that involve a certain degree of risk.