In a Super Bowl ad, Larry David joked about cryptocurrency. Now he’s getting sued for promoting FTX.
David is among 13 celebrity defendants listed in the lawsuit .
(JTA) — Jewish comedian Larry David is being sued in a class action lawsuit for his role in promoting the failed cryptocurrency exchange platform FTX as a brand ambassador during a Super Bowl commercial.
The commercial, which aired during the 2022 Super Bowl in February, showed David in various historical moments resisting technological and political innovations, such as the advent of the fork and the lightbulb, the signing of the Declaration of Independence, and the creation of the Walkman, leading up to him to ultimately decline an offer to get involved in FTX’s crypto exchange.
“Like I was saying,” the FTX man selling to David says, “it’s a safe and easy way to get into crypto.”
“Yeah, I don’t think so,” David says. “And I’m never wrong about this stuff. Never.”
The image freezes, and text appears on the screen: “Don’t be like Larry. Don’t miss out on the next big thing.”
Now, anyone who bought into FTX then or at any other time is likely wishing they had listened to David’s character. Last week, the company filed for bankruptcy and CEO and founder Sam Bankman-Fried resigned from his position amid a run on withdrawals by investors spooked by concerns raised by others in the industry. Federal regulators are reportedly investigating FTX and Bankman-Fried’s conduct.
The lawsuit was filed by Oklahoma resident Edwin Garrison, who says he is seeking to recover damages and relief stemming from trading with FTX on his own behalf and on behalf of “all others similarly situated.”
David is among 13 celebrity defendants listed in the lawsuit who were among the crypto exchange’s star-studded brand ambassadors, including professional basketball, football and tennis players, as well as Bankman-Fried.
The downfall of FTX has ignited sweeping disdain for Bankman-Fried, including from run-of-the-mill to high-profile antisemites. PJC