The cryptocurrency class-action lawsuit against Mark Cuban and the Dallas Mavericks has been dismissed.
TL;DR
A class-action lawsuit accusing Mark Cuban and the Dallas Mavericks of promoting the bankrupt Voyager Digital has been dismissed. The lawsuit claimed Cuban made false statements before Voyager's 2022 bankruptcy, which held $1.3 billion in assets.
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[Cryptocurrency Class Action Lawsuit Against Mark Cuban and the Dallas Mavericks Dismissed] According to The Block, a cryptocurrency class action lawsuit accusing Mark Cuban and the Dallas Mavericks of deceiving investors by promoting the now-bankrupt cryptocurrency lending platform Voyager Digital has been dismissed. The lawsuit alleged that Cuban made multiple false statements to Voyager before it filed for Chapter 11 bankruptcy protection in 2022. At the time of Voyager's bankruptcy filing, the platform held approximately $1.3 billion in cryptocurrency assets. Voyager's collapse was part of a broader market downturn triggered by the Terra blockchain crash, which wiped out approximately $40 billion in market capitalization and ultimately led to its founder, Do Kwon, being sentenced to 15 years in prison earlier this month.