Larry David Regrets Starring in FTX Super Bowl Ad: A Comedian’s Cryptocurrency Nightmare 😱💔

Celebrity Larry David expresses remorse for starring in FTX commercial during Super Bowl LVI

Larry David, the comedy icon, admits he was foolish to participate in the FTX Super Bowl ad.

By Ruholamin Haqshanas | Last updated: February 2, 2024 06:26 EST | 2 min read

Source: Midjourney

Renowned comedian Larry David has recently expressed deep regret over his decision to star in a Super Bowl commercial for the now-bankrupt cryptocurrency exchange FTX. In the final season premiere of “Curb Your Enthusiasm,” David admitted feeling foolish for participating in the advertisement despite seeking advice from knowledgeable friends.

The commercial, which aired in 2022, comically depicted David rejecting past inventions before ultimately dismissing FTX. However, the aftermath revealed a much darker side, as FTX’s former CEO Sam Bankman-Fried was recently found guilty of defrauding customers, lenders, and investors. The exchange has subsequently filed for bankruptcy, leaving celebrities who promoted FTX, including David, Tom Brady, and Steph Curry, facing a lawsuit filed in November 2022.

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Larry David’s Decision-Making Process

Recalling the decision-making process behind his involvement, David revealed that he had consulted friends who were well-versed in the industry to seek their opinions. Assured that it was a legitimate opportunity, he reluctantly agreed to take part. In his own words, “So, like an idiot, I did it.” 😅

Watch the Larry David FTX ad here.

The ad humorously portrayed David rejecting historical inventions with his signature wit and conviction. However, the subsequent revelation of FTX’s fraudulent activities added a bitter twist to the tale. Bankman-Fried has been convicted for defrauding various parties, leaving him awaiting sentencing.

As a consequence of their involvement with FTX, David and other celebrities who promoted the platform were hit with a class-action lawsuit following the company’s implosion. The lawsuit alleges that the celebrities actively participated in the sale of unregistered securities through yield-bearing accounts. Other celebrities listed in the lawsuit include Kevin O’Leary, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, Naomi Osaka, and more. 😮

David, who had a portion of his salary tied up in cryptocurrency, even expressed willingness to be part of the lawsuit, acknowledging the significant financial losses he incurred.

FTX’s Fate and Creditors’ Relief

In a recent hearing, FTX attorney Andy Dietderich revealed that the company has been negotiating with potential bidders and investors since October 2023. Unfortunately, none were willing to contribute sufficient funds to rebuild the FTX exchange. As a result, the platform has decided to abandon and liquidate all assets, returning funds to its customers.

During the hearing, the company sought approval for a process to ascertain the amounts owed to each creditor and customer. US Bankruptcy Judge John Dorsey ruled that the size of each claim would be determined based on what the customer or creditor was owed on the day FTX filed for bankruptcy.

Q&A: What You Need to Know About the FTX Debacle

Q: How did FTX’s fraudulent activities impact Larry David and other celebrities involved?

A: Larry David, along with other celebrities who promoted FTX, has been hit with a class-action lawsuit alleging their involvement in the sale of unregistered securities. These celebrities, including Tom Brady and Steph Curry, are now facing legal consequences for endorsing a platform involved in fraudulent activities.

Q: What is the fate of FTX and its customers?

A: FTX has filed for bankruptcy and chosen to abandon its operations. The company is now in the process of liquidating its assets in order to return funds to its customers, relieving them of the uncertainty surrounding their investments.

Q: What role did Larry David play in the FTX ad?

A: Larry David starred in a Super Bowl commercial for FTX in 2022. The ad humorously depicted him rejecting past inventions before ultimately dismissing FTX. However, the revelation of FTX’s fraudulent activities afterward added a bitter twist to the tale.

Looking Ahead: The Future of Cryptocurrency and Celebrity Endorsements

The FTX debacle serves as a cautionary tale for both celebrities and investors alike. It highlights the importance of thorough due diligence and cautious decision-making when it comes to cryptocurrency endorsements. As the industry continues to evolve, it is crucial for celebrities to align themselves with trustworthy and reputable platforms to protect their own reputation and that of their followers.

With the rise of blockchain technology and the integration of cryptocurrencies into various sectors, there are still many opportunities for safe and lucrative investments. However, individuals should remain vigilant and rely on expert advice to navigate this rapidly changing landscape.

Reference Links:

• Former FTX CEO Sam Bankman-Fried Found Guilty
• Ethereum Founder Vitalik Buterin’s Vision of Web3 Lost
• Binance Users Employ Creative Tactics in Class-Action Lawsuit
• FTX Cash Reserve Doubles as Company Strives to Repay Customers
• Understanding Bitcoin ETFs: What Happened the Last Time the SEC Ruled

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