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The FTX collapse that is ballooning into arguably the biggest financial story of 2022 is worsening for Tom Brady, Steph Curry and other major endorsers of the now-bankrupt cryptocurrency platform.

The director of enforcement for the Texas State Securities Board has announced that state regulators are investigating multiple celebrity endorsers tied to the FTX trading platform. The probe is an an effort to determine whether securities laws were violated by Brady, Curry and others while promoting FTX and cryptocurrency.
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https://www.yahoo.com/sports/tom-br...tigation-over-ftx-crypto-fraud-234740557.html
 
https://www.druganddevicelawblog.com/2016/06/can-plaintiffs-sue-a-celebrity-spokesperson.html

Can Plaintiffs Sue a “Celebrity Spokesperson”?

The answer seems to be “no.” There isn’t much law, but there is a little. The Federal Trade Commission once tried to sue directly a celebrity endorser of a dietary supplement, and drew back a nub on a false advertising claim. First, the celebrity endorser “had no actual knowledge of any material misrepresentations regarding” the product. F.T.C. v. Garvey, 383 F.3d 891, 901 (9th Cir. 2004). There was no evidence that the endorser met the FTC’s own standard for liability – that he was “recklessly indifferent to the truth of his statements or was aware that fraud was highly probable and intentionally avoided the truth.” Id. at 902. Even the FTC’s own guides (which “lack force of law”) required only that endorsements “reflect the honest opinions, findings, beliefs, or experience of the endorser.” Id. at 904-05.
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The Crypto space is having a very normal one.

SBF is probably going to prison for a very long time. FTX is dead, and now, the biggest player in the Crypto space looks like it's having it's own issues.

https://www.reuters.com/markets/us/...ance-crypto-world-falters-sources-2022-12-12/

The investigation began in 2018 and is focused on Binance's compliance with U.S. anti-money laundering laws and sanctions, these people said. Some of the at least half dozen federal prosecutors involved in the case believe the evidence already gathered justifies moving aggressively against the exchange and filing criminal charges against individual executives including founder Changpeng Zhao, said two of the sources. Others have argued taking time to review more evidence, the sources said.
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To add to that, probably in part related to FTX going belly up, and partially related to the news on the investigation into Binance, they halted trading after 3 Billion in USDC was withdrawn by their customers.

We might find out if/how much fraud the biggest crypto exchange has gotten up to.

The people that said crypto is just fraud all the way down are seeming more and more accurate.
 
ScarySpikes said:
The Crypto space is having a very normal one.

SBF is probably going to prison for a very long time. FTX is dead, and now, the biggest player in the Crypto space looks like it's having it's own issues.

https://www.reuters.com/markets/us/...ance-crypto-world-falters-sources-2022-12-12/



To add to that, probably in part related to FTX going belly up, and partially related to the news on the investigation into Binance, they halted trading after 3 Billion in USDC was withdrawn by their customers.

We might find out if/how much fraud the biggest crypto exchange has gotten up to.

The people that said crypto is just fraud all the way down are seeming more and more accurate.
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I for one am shocked that a large finance platfor run by people that look like this, was "entirely unsophisticated" . I mean i defintely look at this crew and think "yup my money is in good experienced hands"

ftx-samuel-bankman-fried-caroline-ellison-comp.jpg
 
His dad worked for the company and may have some liability, while his mom did not. Knowing them as Jewish parents they undoubtedly think he's innocent or "didn't mean it" regardless of how much wealth he destroyed.
 
HappyHighwayman said:
I am shocked we're not all billionaires now.
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kevin 714 said:
I for one am shocked that a large finance platfor run by people that look like this, was "entirely unsophisticated" . I mean i defintely look at this crew and think "yup my money is in good experienced hands"
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But the Shark tank guys says that his parents are compliance lawyers, so it must be safe. :laughing
 
kevin 714 said:
i continue to be amazed that people are hoodwinked by a sector run by people like this, and shilled by man babies and social media investors.
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Well, people are constantly bombarded with the message that all regulation does is stifle growth, so when those same people are presented with something that is famed for it's complete lack of regulation, instead of seeing how inevitable it is that they are going to get fucked over with 0 recourse, they instead are willing to believe fairy tales promises of massive growth with little to no risk.
 
ScarySpikes said:
Well, people are constantly bombarded with the message that all regulation does is stifle growth, so when those same people are presented with something that is famed for it's complete lack of regulation, instead of seeing how inevitable it is that they are going to get fucked over with 0 recourse, they instead are willing to believe fairy tales promises of massive growth with little to no risk.
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I feel like the gig economy is everyone slowly realizing regulation exists for a reason lol
 
HappyHighwayman said:
His dad worked for the company and may have some liability, while his mom did not. Knowing them as Jewish parents they undoubtedly think he's innocent or "didn't mean it" regardless of how much wealth he destroyed.
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He didn't destroy wealth. He converted it to another state of entropy.
 
It has always bothered me that crypto currency consumes resources to produce... nothing. It sure seems to me like no tangible, useful work has been produced for all that computational effort. Maybe i'm wrong but it sure feels like there ain't much to show for this except ashes. Has blockchain technology change my life in a way i'm just ignorant of?
 
kevin 714 said:
I for one am shocked that a large finance platfor run by people that look like this, was "entirely unsophisticated" . I mean i defintely look at this crew and think "yup my money is in good experienced hands"

ftx-samuel-bankman-fried-caroline-ellison-comp.jpg
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I look at it more as "See, there's someone out there for everyone..."

Yes, they were in a relationship.

Maybe, as she was spotted in NYC yesterday, free as a bird, she's turning on SBF to save herself from lengthy prison time.
 
Johndicezx9 said:
I look at it more as "See, there's someone out there for everyone..."

Yes, they were in a relationship.

Maybe, as she was spotted in NYC yesterday, free as a bird, she's turning on SBF to save herself from lengthy prison time.
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They look fine. :dunno:dunno

Apparently they were both in a big polycule. Also fine. Apparently the Polycule was mostly, or all FTX and ALameda research employees. probably not fine.

I don't really care for digging much into their sex lives. There is plenty to focus on with all of the fraud.

Anyone anywhere near this who isn't looking to throw SBF under the bus as enthusiastically and quickly as possible is an idiot.
 
Even if sex was a factor in funneling money to Alameda...? Alameda was spending the money, correct?

They seem like a well matched couple.
 
ScarySpikes said:
They look fine. :dunno:dunno

Apparently they were both in a big polycule. Also fine. Apparently the Polycule was mostly, or all FTX and ALameda research employees. probably not fine.

I don't really care for digging much into their sex lives. There is plenty to focus on with all of the fraud.

Anyone anywhere near this who isn't looking to throw SBF under the bus as enthusiastically and quickly as possible is an idiot.
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my point is that these do not look like well put together experienced & sophisticated businessmen and woman capable of responsibly running a company of such value and complexity.

they somewhat look exactly as they are: inexperienced, sheltered, and juvenile children. there is of course nothing wrong with how they look, everyone looks like that at some point, more or less
 
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