Authorities probe against Tom Brady and other celebs for promoting
Authorities probe against Tom Brady and other celebs for promoting
FTX
FTX
The US regulators are expanding their investigations to different firms connected with FTX. Now, Texas authorities are probing Tom Brady, Steph Curry, and other celebrities for promoting the exchange.
The US regulators are expanding their investigations to different firms connected with FTX. Now, Texas authorities are probing Tom Brady, Steph Curry, and other celebrities for promoting the exchange.
Web3 companies have been endorsing celebrities and influencers because of their fandom reach to promote their products in exchange for compensation such as crypto coins or payment in USD
Web3 companies have been endorsing celebrities and influencers because of their fandom reach to promote their products in exchange for compensation such as crypto coins or payment in USD
Brady and Curry were hired by FTX to promote their exchange among their supporters but now that the platform has fallen into bankruptcy, the two are held guilty of securities-law violations.
Brady and Curry were hired by FTX to promote their exchange among their supporters but now that the platform has fallen into bankruptcy, the two are held guilty of securities-law violations.
This might sound ridiculous but it’s not the first time celebrities were probed over a company loss, costing them a huge penalty and a bad reputation.
This might sound ridiculous but it’s not the first time celebrities were probed over a company loss, costing them a huge penalty and a bad reputation.
In Brady’s case, he had invested in an equity stake in 2021 along with his wife Gisele Bündchen, and expressed his excitement about being part of the “change” with Sam Bankman-Fried.
Now, people filed a class-action lawsuit in Florida against Brady, Curry, Larry David, Trevor Lawrence, Naomi Osaka, and others for falsely promoting FTX and costing consumers a loss.
Now, people filed a class-action lawsuit in Florida against Brady, Curry, Larry David, Trevor Lawrence, Naomi Osaka, and others for falsely promoting FTX and costing consumers a loss.
“Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment — like these Defendants,” the lawsuit reads.
The Texas regulators will be investigating the case. After all, celebrities are obliged to pay for any losses at the expense of their promotions, especially if it’s deliberate and informed.
The Texas regulators will be investigating the case. After all, celebrities are obliged to pay for any losses at the expense of their promotions, especially if it’s deliberate and informed.
The decision will be made soon and shared with the media after the authorities are done investigating.
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