Larry David is being sued for a crypto ad where he told viewers not to invest in crypto, and it might be the most Larry David thing of all time.
The Curb Your Enthusiasm star appeared in a superbowl ad for the cryptocurrency exchange FTX, and has been named in a class-action lawsuit against the exchange, Variety reports.
FTX, one of the world’s biggest crypto exchanges, filed for bankruptcy in the US last week after speculation around the financial health of the platform saw a mass of customers attempt to withdraw their funds from the exchange, leading to its collapse.
Now, David is one of the celebrities who has been named as a ‘brand ambassador’ in a lawsuit accusing FTX of using celebs to target “unsophisticated investors” in a “Ponzi scheme” in a bid to keep the platform afloat.
The lawsuit was filed against FTX and its CEO Sam Bankman-Fred and the man who brought it forward, Edwin Garrison, said he hopes to represent “thousands, if not millions, of consumers nationwide” affected by the latest developments.
“Part of the scheme employed by the FTX Entities involved utilizing some of the biggest names in sports and entertainment — like these Defendants — to raise funds and drive American consumers to invest” the lawsuit claims.
As well as David, the likes of Giselle Bündchen, Tom Brady, Stephen Curry and Shaquille O'Neal were named as defendants in the lawsuit.
The ad featuring David sees the famously misanthropic star dismiss a series of new inventions throughout history as bad ideas, all the way from the wheel to the lightbulb and up to the formation of FTX.
So, essentially, he’s being sued for promoting FTX despite being dismissive of cryptocurrency in the ad, which feels like classic David.
Indy100 has reached out to FTX and David’s representatives for comment.
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