FTX users name Mercedes F1 team and MLB in new promo lawsuits

Mercedes-Benz Formula One team and Major League Baseball helped FTX perpetrate fraud through promotional deals with the crypto exchange, according to a group of FTX users in a newl

The plaintiffs, consisting of FTX users, filed twin class-action suits in a Florida District Court on Nov. 27, accusing the firms of “aiding and abetting and/or actively participating in the FTX Group’s massive, multibillion-dollar global fraud” and promoting unregistered securities.

In 2021, the Mercedes F1 team signed a promotional deal with FTX which saw the exchange’s logo emblazoned on cars, uniforms, hats and other materials. The MLB signed a similar deal that same year — the first pro sports…

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