{"id":78265,"date":"2024-05-08T03:47:50","date_gmt":"2024-05-08T07:47:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=78265"},"modified":"2024-05-08T03:47:52","modified_gmt":"2024-05-08T07:47:52","slug":"sports-stars-to-pay-2-4m-in-voyager-promotional-suit","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/sports-stars-to-pay-2-4m-in-voyager-promotional-suit\/","title":{"rendered":"Sports Stars to Pay $2.4M in Voyager Promotional Suit"},"content":{"rendered":"\n

Landon Cassill, Rob Gronkowski, and Oladipo have reached a settlement with the plaintiffs in their ongoing lawsuit <\/a>against Voyager Digital.<\/p>\n\n\n\n

\"\"
Sports Stars to Pay $2.4M in Voyager Promotional Suit<\/figcaption><\/figure>\n\n\n\n

In a settlement agreement, three prominent American athletes have reached a joint payment of\u00a0$2.42 million<\/strong>\u00a0to address allegations that they assisted in the promotion of the defunct cryptocurrency exchange Voyager Digital.\u00a0\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>\n\n\n\n

The largest contribution of $1.9 million will be made by retired NFL star Rob “Gronk” Gronkowski, per a class action settlement formally filed on May 3<\/strong>. <\/p>\n\n\n\n

NASCAR driver Landon Cassill will contribute $25,000. NBA player Victor Oladipo will contribute $500,000. All three athletes have reached settlements without explicitly denying or confessing to the allegations. <\/p>\n\n\n\n

All U.S. citizens who purchased VGX tokens or enrolled in a Voyager Earn Program Account between October 2019 and the preliminary approval date are included in the proposed settlement. <\/p>\n\n\n\n

In addition to obtaining consent for the $2.4 million settlement, the plaintiffs intend to request an approximate $792k award of attorney fees. <\/p>\n\n\n\n

According to a press release from the time, Gronkowski, who introduced an NFT collection in 2021, assumed the roles of Voyager partner, “brand ambassador,” shareholder, and VGX token holder in September 2021. <\/p>\n\n\n\n

\"\"
Rob \u201cGronk\u201d Gronkowski. Source: tampagronk.com<\/figcaption><\/figure>\n\n\n\n

According to Adam Moskowitz, legal counsel for Investor, the settlements are primarily attributable to the athletes, who “sincerely desired to assist their fans.” <\/p>\n\n\n\n

\u201cGronk had a sincere empathy for all of his fans, even though he lost money with Voyager as well. It is no surprise he continues to be such a trusted and respected spokesperson,\u201d he explained to Law360.\u00a0<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

Class Action Against Dallas Mavericks Owner Mark Cuban was initiated by a group of investors in 2022; Gronkowski and other Voyager promoters were added to the suit in 2023. <\/p>\n\n\n\n

In negotiating the settlements via mediation, the promoters' solicitation of investors and whether the Voyager products constituted unregistered securities were the two most significant issues to be resolved. <\/p>\n\n\n\n

The cryptocurrency trading platform initiated bankruptcy proceedings in July 2022, following market instability caused by the Terra\/Luna collapse in May and loan defaults to the Three Arrows Capital (3AC) hedge fund. <\/p>\n\n\n\n

In April, Voyager Digital secured $484 million through settlements with FTX, Three Arrows Capital, and Directors and Officers (D&O) insurance claims, thereby making some progress toward compensating its creditors.  <\/p>\n","protected":false},"excerpt":{"rendered":"

Landon Cassill, Rob Gronkowski, and Oladipo have reached a settlement with the plaintiffs in their ongoing lawsuit against Voyager Digital. In a settlement agreement, three prominent American athletes have reached a joint payment of\u00a0$2.42 million\u00a0to address allegations that they assisted in the promotion of the defunct cryptocurrency exchange Voyager Digital.\u00a0 The largest contribution of $1.9 million will […]<\/p>\n","protected":false},"author":53,"featured_media":78268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[5495,6891,5990,5880],"class_list":["post-78265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-2","tag-lawsuit-2","tag-nba-2","tag-sports-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/05\/cas-3.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=78265"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/78265\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/78268"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=78265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=78265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=78265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}