Mark Cuban Faces Revived Voyager Crypto Appeal

Just months after a judge tossed their case, Voyager Digital investors are appealing to revive class-action claims against Mark Cuban and the Dallas Mavericks.

A dismissed case refuses to stay closed

Mark Cuban's involvement in the collapse of crypto lender Voyager Digital is not behind him after all. The Block reports that investors who lost money in the firm's failure have filed a notice of appeal, hoping to breathe new life into claims against the billionaire entrepreneur and the Dallas Mavericks, the NBA franchise he previously controlled.

The move keeps Cuban tethered to a legal saga that had appeared, at least for a moment, to be resolved. For investors still nursing losses from one of the crypto sector's most prominent implosions, the appeal represents another attempt to hold high-profile promoters accountable.

How the case was dismissed

The appeal takes aim at a ruling handed down on December 30, 2025 by U.S. District Judge Roy Altman. According to The Block, Altman threw out the lawsuit after concluding that the plaintiffs lacked a sufficient connection to the Florida courts where the case had been brought, in part because Cuban maintains residences in the state. In short, the dismissal turned on jurisdiction rather than the substance of the allegations.

The investors have now taken their fight to the Eleventh Circuit Court of Appeals. Their filing also challenges a separate May 2026 order in which the court denied motions asking it to reconsider the dismissal.

Key facts from The Block's report:

Investors filed the appeal in late June 2026 with the Eleventh Circuit.
The original case was dismissed on jurisdictional grounds in December 2025.
Other defendants, including Rob Gronkowski, Victor Oladipo and Landon Cassill, settled their portions for $2.4 million in 2024.
The dispute stems from a 2021 marketing partnership between Voyager and the Mavericks.

The origins of the dispute

The underlying lawsuit dates back to 2022, when investors accused Cuban and a roster of celebrity promoters of "soliciting investments in unregistered securities on Voyager's platform" ahead of the company's downfall. The accusations center on how prominent names and a partnership with a major sports franchise may have lent the platform an air of legitimacy in the eyes of everyday users.

Voyager's fortunes unraveled quickly. The company filed for Chapter 11 bankruptcy in July 2022, crushed by operational strain and a default of roughly $650 million linked to the failed hedge fund Three Arrows Capital. When the platform froze and then collapsed, customer balances were wiped out, leaving many account holders with steep losses.

What is at stake for Cuban

The 2021 marketing tie-up between the Mavericks and Voyager became a flashpoint once the platform failed. Plaintiffs argue that celebrity endorsement and the credibility of an NBA brand encouraged people to trust a venture that ultimately could not survive. For Cuban, the renewed legal action reopens a headache that had seemed settled only months earlier.

It is important to note what an appeal can and cannot accomplish. A favorable ruling for the investors would not establish that Cuban or the Mavericks did anything wrong. Instead, it could overturn the jurisdictional dismissal and send the matter back down for further litigation, potentially forcing the underlying claims to be argued on their merits.

That outcome would keep Cuban entangled in the fallout from the crypto downturn years after Voyager went under. As the broader industry continues to grapple with lawsuits tied to the boom-and-bust cycle of recent years, cases like this one underscore the lingering legal exposure that can follow high-profile endorsements. All facts above are attributed to The Block.