Cryptocurrency markets are extremely volatile and unpredictable, with people making and losing millions in mere seconds. But despite the uncertainty, it is a popular form of investment that many stars and celebrities are venturing into. Los Angeles Angels two-way phenom Shohei Ohtani was one of those many stars to do so. He inked a long-term deal with FTX, a cryptocurrency exchange. But FTX went under, causing losses of $11 billion to consumers. 

Several high-profile athletes are currently being sued for endorsing FTX. Most recently, the Japanese star’s lawyers made a strong case for his release from the endorsement lawsuit charges.

According to Ohtani’s legal team, the Japanese star should be dismissed from the lawsuit

 Victims filed a lawsuit against the athletes and celebrities endorsing FTX following its collapse. This includes Shohei Ohtani, who signed a long-term deal with the currency exchange company in November 2021. Most recently, Ohtani’s lawyers said that he should be dismissed from the lawsuit. Ohtani said that he’s not a Florida native and didn’t directly do business with Florida residents, as reported by the LA Times.

According to the LA Times, “Shohei Ohtani should be dismissed from a lawsuit alleging his endorsement of the now-bankrupt cryptocurrency exchange FTX, his attorneys argued in a court filing Friday. The filing includes a four-page sworn declaration from Ohtani in Japanese, which he signed Tuesday in Anaheim, and an English translation certified by a notary.” Ohtani said that he is not a United States citizen and is legally a Japanese resident. Furthermore, FTX’s deal with him was to use his image and name for marketing in Japan.

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Only time will tell whether the courts will dismiss Ohtani from this lawsuit. His lawyers have presented several facts in his favor. However, despite the troubling legal dispute, he is performing at a top level so far this season. 

Shohei Ohtani is playing MVP-level baseball this season

Shohei Ohtani is playing some elite baseball at the moment, but the Los Angeles Angels have a 7-7 win-loss record. Earlier in the season, he put on a historic performance only for the Angels to lose. Furthermore, that seems to be a trend to start the season, with him and Mike Trout playing elite baseball yet losing.

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What do you think about Shohei Ohtani and his legal team’s latest statement? Kindly share your thoughts in the comments below.