According to reports, users of the now-defunct cryptocurrency exchange FTX have taken aim at financiers who marketed the platform, arguing that their efforts provided a “air of legitimacy” to the now-defunct exchange in a situation that has been described as “tricky” by a cryptocurrency attorney.
According to a story that was published by Bloomberg on February 15th, FTX investors had filed a class-action lawsuit on February 14th against the venture capital company Sequoia Capital as well as the private equity companies Thoma Bravo and Paradigm.
The investors said that the companies were promoting “their own investments” in FTX, which amounted to hundreds of millions of dollars.
It was stated that the companies participated in a promotional marketing campaign in 2021, which the investors said gave the discredited cryptocurrency exchange a “air of credibility.”
The three companies were all investors in FTX’s $900 million Series B…
