The court dismissed the lawsuit against billionaire Mark Cuban for advertising crypto investments, 2026/01/03 13:20:53

The Southern District of Florida has dismissed a class action lawsuit against American billionaire and owner of the Dallas Mavericks basketball club Mark Cuban, who collaborated with crypto lender Voyager Digital, which went bankrupt in 2022.

According to the Voyager Digital investor complaint, Cuban and the Dallas Mavericks violated state securities laws and consumer protection laws. The plaintiffs alleged that the billionaire repeatedly misled the club’s fans about investing in Voyager Digital by making false statements about the platform. The basketball club promoted the services of a crypto lender after signing a five-year cooperation agreement to increase awareness of the club’s fans about digital assets.

However, Judge Roy Altman explained that the plaintiffs had failed to establish personal liability against Cuban and his basketball club. The plaintiffs have not proven that Cuban and the Dallas Mavericks conducted business or business in Florida, although the billionaire owns real estate in the state. The plaintiffs also failed to prove that the defendants directly encouraged Florida residents to invest in cryptocurrencies.

“The conspiracy lawsuit would make more sense if it were directed against the crypto lender Voyager Digital itself. But that’s not true. Cuban and the Mavericks are the only defendants, and plaintiffs have not named Voyager Digital as a co-conspirator,” Altman explained.

Mark Cuban’s lead attorney, Steve Best, thanked the judge for “absolutely the right decision” but suggested investors might consider filing suit in another jurisdiction.

Last year, Cuban recommended that investors forget about gold and buy bitcoin to prepare for the coming economic turmoil. Previously, the billionaire called memcoins well-organized liquidity withdrawal schemes.