According to Bloomberg reports, the National Basketball Association (NBA) is facing an expensive case after entering a partnership with now-defunct crypto exchange Voyager Digital, which saw its investors lose more than $4.2 billion.
The blame lies with investors pointing to the NBA for severe neglect in advertising Voyager and Mark Cuban, a previous Dallas Mavericks owner.
This case is mirrored in another lawsuit for misleading investors into believing their investments with Voyager were safe when they lost money. Cuban denies all claims. Hence, the co-founder of Voyager has lawsuits due to his alleged misleading practices.
NBA crypto links go beyond Voyager-made deals with the tanked FTX exchange, whose founder is accused of fraud. The essence of this lawsuit reveals the increasing issue concerning promos, that NBA team representatives promote crypto entities and bring urgent issues related to risks.
