Mark Cuban is being sued as part of a class action lawsuit for promoting Voyager to NBA fans

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Last Updated on August 13, 2022 by Bitfinsider

Mark Cuban is facing a class-action lawsuit over his promotion of the bankrupt cryptocurrency brokerage firm Voyager Digital.

In a complaint filed in the US District Court for the Southern District of Florida, aggrieved Voyager customers represented by lawyer Adam Moskowitz claim that Cuban promoted the embattled crypto broker to fans of his NBA basketball team, the Dallas Mavericks.

“Mark Cuban recently spoke at a Dallas Mavericks press conference, conducted over the internet, where he strongly supported and touted the partnership between his company and the Voyager Defendants. Mr. Cuban proudly described how he would personally help significantly increase [the] scope and presence of the Deceptive Voyager Platform for those with limited funds and experience.”

The suit, which also names Voyager CEO Steve Ehrlich and the Dallas Mavericks, claims that Voyager is a Ponzi scheme and that the platform’s Earn Program Accounts (EPAs) are unregistered securities.

The class action is attempting to hold the defendants liable for the $5 billion in investor losses.

Voyager declared bankruptcy after one of its largest borrowers, crypto hedge fund Three Arrows Capital (3AC), defaulted on a large loan as a result of the crypto winter. Despite the downturn, Cuban maintains a crypto portfolio that includes ApeCoin (APE) and Klima DAO (KLIMA).

Voyager, on the other hand, froze withdrawals in July due to insolvency, but it recently announced plans to resume cash withdrawals.

Other problems remain for the company. Voyager was recently accused by the US Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) of making false claims about its deposit insurance status.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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