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NewsFebruary 18, 2022·1 min read
Phil Hellmuth's Promoted Cryptocurrency Faces Lawsuit
Poker legend Phil Hellmuth has found himself in the midst of a legal storm surrounding Bitcoin Latinum, a cryptocurrency he has been promoting. Hellmuth has been a paid endorser of the Bitcoin Latinum cryptocurrency. He sported the crypto-brand’s logo throughout the recent World Series of Poker and has promoted its benefits in a range of discussions.
A lawsuit has been filed against Kevin Jonna and Bitcoin Latinum, with investors claiming they have never received the crypto tokens they paid for. The lawsuit launched recently by three investors has resulted in the price of the coin falling by 95% since the start of the year, amid claims of investment funds being diverted and misappropriated for personal use.
In response to the legal action, Bitcoin Latinum has countersued everyone involved in the lawsuit for not less than $1 billion each for reputational and punitive damages. It is not clear whether or not Hellmuth’s involvement goes beyond being a paid promoter of the coin. Hellmuth is listed as an angel investor in Bitcoin Latinum.
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