Class-action lawsuit against Mark Cuban and the Dallas Mavericks over cryptocurrency dismissed

PANews January 1 News, according to The Block, a 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 alleges that Cuban made multiple false statements about the company before Voyager filed for Chapter 11 bankruptcy protection in 2022. At the time of bankruptcy, the crypto assets on Voyager’s platform were valued at approximately $1.3 billion. Voyager’s collapse was part of a broader market downturn triggered by the Terra blockchain crash, which caused about $40 billion in market capitalization to evaporate and ultimately led to its founder Do Kwon being sentenced to 15 years in prison earlier this month.