The downfall of FTX Trading Limited has eclipsed the cryptocurrency community and become mainstream news. The latest instance came this week when celebrity spokespeople of FTX were named in a class action lawsuit.
Who were these celebs? They ran the gamut from Stephen Curry of the Golden State Warriors, Shohei Ohtani of the Los Angeles Angels, Seinfeld creator Larry David, and yep...Tampa Bay Buccaneers quarterback Tom Brady.
The lawsuit was filed by Edwin Garrison of Florida, who invested in FTX and purported to lose money when the company shuttered.
What Garrison and the lawsuit allege is that FTX founder Sam Bankman-Fried used capital to solicit celebrities for ads that would appeal to the general public. The aforementioned Brady, Ohtani, Curry, and David were hardly alone in this endeavor.
FTX also hired retired athletes David Ortiz and Shaquille O'Neal for advertisements, in addition to the Jacksonville Jaguars' Trevor Lawrence and many others.
An FTX ad featuring Tom Brady and his then-wife Gisele Bündchen was released in 2021.