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The 25-year sentence for FTX founder Sam Bankman-Fried last week ended one criminal chapter in the implosion of one of the world's biggest cryptocurrency exchanges. But several civil lawsuits -- including three that name prominent sports figures -- will likely take months or years more to unwind.
Nearly a dozen athletes, teams, leagues and other sports figures are named in class-action litigation tied to their endorsement of FTX, Voyager Digital and Binance, companies that collapsed when crypto markets crashed in 2022.
The lawsuits, some of which have been moving through the courts for more than a year, allege the defendants are responsible for investor losses in crypto because they promoted cryptocurrency assets that were "unregistered securities.