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Mark Cuban, NBA Sued Over Ties To Defunct Crypto Exchange Following Multi-Billion Dollar Investor Losses

Investors have brought legal action against the National Basketball Association (NBA), claiming losses of $4.2 billion tied to their partnership with the now-collapsed Voyager Digital Holdings Inc. 

What Happened: The lawsuit reported by Bloomberg, initiated Tuesday in Miami, accuses the NBA and Dallas Mavericks’ former owner Mark Cuban of “gross negligence” due to their marketing agreement with the crypto exchange.

This lawsuit follows a previous claim against Cuban, charging him with promoting what the investors have described as “an unregistered and unsustainable fraud” after Voyager’s downfall in 2022.

Several NBA teams had partnerships with cryptocurrency companies,…

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