PANews reported on May 8 that according to CNBC, K. Michael Moore, a federal court judge in the Southern District of Florida, dismissed most of the lawsuits against stars such as Tom Brady, Gisele Bündchen, Kevin O'Leary, Stephen Curry and several YouTube bloggers. These celebrities were accused of improperly promoting the bankrupt FTX exchange. In the ruling, the judge pointed out that the plaintiffs (FTX investor group) failed to prove that these promoters knew in advance about the fraud of FTX and its CEO Sam Bankman-Fried (SBF). The FTX crash in November 2022 caused customers to lose billions of dollars and triggered a global regulatory investigation. The core dispute of the lawsuit is that these celebrities collected millions of dollars in promotion fees but did not disclose their economic interests, suspected of violating federal and state advertising laws. The court ultimately determined that the existing evidence was insufficient to hold them legally responsible. However, state law claims against some defendants can still be advanced.