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BTCC / BTCC Square / Global Cryptocurrency /
Investors Sue Nike for $5M Over Alleged RTFKT NFT Project Abandonment

Investors Sue Nike for $5M Over Alleged RTFKT NFT Project Abandonment

Global Cryptocurrency
Author:
Global Cryptocurrency
Release Time:
2025-04-28 07:09:02
0

A group of investors has launched a class action lawsuit against Nike, alleging the sportswear giant abruptly shut down its Web3 subsidiary RTFKT, causing millions in investor losses. Court filings accuse Nike of executing a ’rug pull’ by severing demand for associated digital assets after heavily promoting what plaintiffs claim were unregistered securities.

The lawsuit contends Nike capitalized on the crypto boom to drive NFT sales, leveraging its brand power to create artificial demand. Investors argue they purchased tokens expecting appreciation based on Nike’s marketing strategy, only to see the project abandoned.

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