Larry David Expresses Regret Over Promoting Failed Crypto Exchange FTX
Summary:
Comedian Larry David regrets appearing in an ad for the failed cryptocurrency exchange, FTX. The Super Bowl LVI ad he starred in resulted in financial loss and class-action lawsuits. The spotlight is on former FTX CEO Sam Bankman-Fried, who is awaiting sentencing for felony charges. A noticeable absence of cryptocurrency ads is expected at Super Bowl LVIII following the collapse of several firms including FTX.
Larry David, the comedian behind television hits Seinfeld and Curb Your Enthusiasm, recently expressed regret over his role in a commercial for the now-defunct cryptocurrency exchange, FTX. In a January 31 interview with the Associated Press, David revealed that he accepted the advertisement gig after consulting with knowledgeable friends. The Super Bowl LVI commercial which aired in February 2022 urged viewers to seize upon crypto opportunities, featuring David dismissing various profitable investments before doing the same with cryptocurrency.
Reflecting on the decision, David admitted, "Like a fool, I participated." He also disclosed that not only had the commercial resulted in significant financial loss for him – since a portion of his earnings were in crypto – but also in class-action lawsuits. These suits resulted from claims that he failed to adequately investigate FTX before promoting it.
FTX declared bankruptcy in November 2022, about nine months post David's commercial. The former Chief Executive Officer of the company, Sam Bankman-Fried, faced arrest and was found guilty on multiple felony charges tied to inappropriate fund use between FTX and Alameda Research. His sentencing is due to take place in March.
While the upcoming Super Bowl LVIII between the San Francisco 49ers and the Kansas City Chiefs is expected to draw large crowds, partly due to an expected attendance by music artist Taylor Swift, whose boyfriend Travis Kelce is the Chiefs' tight end, cryptocurrency commercials will be noticeably missing. After the downfall of FTX and others, there were no crypto ads during Super Bowl LVII in 2023, and it remains uncertain whether any will feature in the 2024 game.
Published At
2/1/2024 11:17:55 PM
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