Image Credits - Tennis World USA
Here’s everything you need to know about Japanese tennis star Naomi Osaka being sued in a billion-dollar lawsuit
Naomi Osaka is one of the several elite athletes who are set to be sued after a crypto-currency company called FTX filed for bankruptcy last week. The Japanese star, along with NBA legend Steph Curry and NFL great Tom Brady, have been named as defendants in a lawsuit against the crypto exchange. FTX is known for high-profile endorsements to promote products and is currently under investigation by the American authorities.
The lawsuit has been filed in Florida and alleges that the sports stars endorsed the company and brought instant credibility to FTX and are therefore just as responsible as the company’s founder. The official statement of the lawsuit reads: “Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment – like these Defendants – to raise funds and drive American consumers to invest, pouring billions of dollars into the deceptive FTX platform to keep the whole scheme afloat,” the lawsuit said.”
Naomi Osaka is an FTX ambassador and wore the company’s logo on her kit. Osaka has been named in the lawsuit for promoting her involvement with FTX, specifically targeting women and minorities. However, it is still uncertain how much Osaka or other athletes will have to pay consumers for damages.
A statement has been released to clarify why Osaka is named in the lawsuit. It states: “In exchange for an equity stake in FTX and payments in unspecified amounts of cryptocurrency, Osaka directed and produced content in association with the FTX Entities designed to promote the offer and sale of the unregistered YBA securities, hoping ‘she will reach a global audience.” It remains to be seen if further charges are brought against Osaka.
More Tennis news
Follow our dedicated Tennis page for instant Tennis news and updates