Fallen Crypto Giant FTX’s Uncharted Recovery: Clawing Back Celebrity Endorsements

“Financial advisers of the bankrupt cryptocurrency platform FTX are considering recovery of millions paid for celebrity endorsements. This involves navigating sponsorship fees under bankruptcy regulations. FTX’s documents reveal prepayment transfers to athletes and teams for advertising agreements, however, due to insufficient record-keeping, some transactions might go unnoticed.”

Celebrities Face Lawsuit for Endorsing Bankrupt FTX: A Lesson in Crypto Investment Safety

A class action lawsuit against celebrities promoting bankrupt FTX gains momentum as connections to Florida emerge. The lawsuit accuses 12 celebrities of misleading customers in selling FTX yield-bearing digital currency accounts, causing over $11 billion in damages. This highlights the need for clearer regulations and diligence in cryptocurrency investments.