What You Need to Know

  • Adam Moskowitz is joined by his partner Joseph M. Kaye, as well as David Boies and Stephen Zack of Boise Schiller Flexner
  • The FTX bankruptcy filing was the largest of several failures by cryptocurrency platforms last year.
  • The Howey test determines whether a transaction or an investment contract qualifies as a security if it meets three requirements.

Class action attorneys for the investors who lost billions of dollars in the collapse of the FTX platform have asked the Miami-Dade Circuit Court to determine whether the FTX yield-bearing accounts are a security.

Adam Moskowitz, the managing partner of the Moskowitz Law Firm in Coral Gables, filed a motion for partial summary judgment on this “specific and narrow question” that has plagued worldwide cryptocurrency litigation. The potential ruling could be bad news for defendant FTX’s former brand ambassadors, such as defendant Tom Brady.

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