The company behind Bored Ape Yacht Club NFTs is being sued for using celebrities to promote their products | Business Insider

Celebrities including Williams, Bieber, and Madonna are named in the lawsuit against the company behind Bored Ape Yacht Club.The firm behind Bored Ape Yacht Club NFTs is being sued in the USA for not disclosing celebrities' involvement.Celebrities named include Justin Bieber, Serena Williams, Madonna, and Gwyneth Paltrow.

The complaint alleged that"billions of dollars" were generated in sales and re-sales through manufactured celebrity endorsements and misleading promotions, and"at no point did any of the defendants register these securities with the SEC." The exclusivity, according to the lawsuit, was"entirely manufactured" by Guy Oseary, a Hollywood talent agent, YugoLabs executives, and a front operation"MoonPay," to promote and sell digital assets. MoonPay is a platform that facilitates the purchase and sale of cryptocurrencies.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beware fly-by-night water bottlers, says association surprised by ‘toxic’ products | Business InsiderThe toxic bottled water reported by Sefako Makgatho Health Sciences University could be counterfeit, one lawyer suggests, while a bottled water association highlights the need to buy trusted brands.
Source: BISouthAfrica - 🏆 34. / 51 Read more »

Courier service allows drivers to become small business owners | The CitizenBig companies can empower employees to become small business owners. 📈 Here's how a local company did it 👇 SmallBusinesses
Source: TheCitizen_News - 🏆 6. / 75 Read more »