A Florida attorney filed a proposed class action in federal court against Steve Aoki and DraftKings co-founder Matt Kalish, alleging fraud connected to NFT promotions on social media and misrepresentations about the value of these investments. The complaint centers on claims that the NFT promotions misled buyers about potential gains.
If successful, the case could sharpen scrutiny of how NFT products are marketed to investors and the disclosures required in such promotions. The outcome may influence how social media promotions are regulated in the digital asset space. The dispute underscores ongoing debates over advertising standards, investor protection, and the evolving regulatory framework governing nonfungible tokens in digital markets.
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