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Why Tom Brady, David Ortiz, Madonna and other celebrities are getting sued over crypto PUBLISHED: December 15, at a.m. | UPDATED. Dozens of celebrities were named in a class action lawsuit filed Thursday against blockchain cryptocurrency start-up, Yuga Labs, Inc. Madonna. The suit claims celebrity endorsements of Bored Ape Yacht Club NFTs and ApeCoin tokens resulted in financial loss for investors.

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The lawsuit, filed by John T. Tom Brady, Gisele Bundchen and others were sued in November by an FTX investor for their endorsement of the now-disgraced crypto platform, and then Brady and Ortiz were named again in early December in a similar lawsuit for their backing of FTX. Times Store. A number of celebrities, including Justin Beiber, Paris Hilton, Jimmy Fallon and Madonna, among others, were named as plaintiffs in a class-action lawsuit, alleging that Yuga Labs non-fungible tokens NFT collections were "misleadingly promoted" and resulted in financial damage to the defendants.

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