It Gets Uglier: Several Celebrities Face Lawsuits Amid FTX Fallout

Multiple celebrities are being sued for their advertising or involvement with the Crypto trading platform FTX amid their catastrophic fallout. Tampa Bay Buccaneers quarterback Tom Brady, along with supermodel ex-wife Gisele Bündchen have both been named in the lawsuit. The former couple appears in a highly successful television commercial for FTX in 2020, when Tom Brady was ending his legendary, and a nearly 20-year-long stint with the New England Patriots and was looking for a new team to continue his career.

Other celebrities listed in the lawsuit includes, and are not limited to,  celebrity investor Kevin O’Leary, who assured potential investors and the public that FTX was reputable and reliable, Golden State Warriors point guard Steph Curry, former Boston Redsocks baseball player David Ortiz, basketball legend throughout the early 2000s, Shaquille O’Neal, comedian Larry David, and young second-year quarterback for the Jacksonville Jaguars Trevor Lawrence.

These celebrities took deals from FTX to advertise for them, however, it’s unclear if they, or anyone for that matter, knew anything about the mess at the top of the company. Many highly successful traders and investors put their money in FTX. At the time, FTX was a fast-growing company with a track record of success until it all came crashing down.

While these celebrities ended up making the situation worse by putting their name alongside FTX, suing Tom Brady when Aston Martin has a dangerous recall will likely not make it to court.

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