Mark Cuban's Voyager Promotion Case Heads to Appeals Court

A lawsuit against Mark Cuban and the Dallas Mavericks regarding their promotion of the failed crypto platform Voyager Digital is heading to a federal appeals court.

The case was initially dismissed in December 2025 on jurisdictional grounds, not because of any wrongdoing by Cuban or the team. The plaintiffs argue that Cuban and the Mavericks promoted Voyager as a 'risk-free' investment platform through incentives such as $100 in Bitcoin for making a deposit.

The Voyager promotion is alleged to have drawn investors who lost money when the platform filed for Chapter 11 bankruptcy in July 2022 after Three Arrows Capital defaulted on a roughly $650 million loan. The plaintiffs want to determine if Cuban and the Mavericks carried any legal responsibility for promoting an unregistered security.

The case has been ongoing since 2022, with other celebrity defendants settling for $2.4 million in 2024. The appeal is being led by prominent litigator David Boies of Boies Schiller Flexner, who signals that the effort is being taken seriously.