Larry David’s Crypto Losses Revealed
Larry David, the American comedian, recently disclosed that he suffered significant losses due to his involvement with the now-defunct crypto exchange FTX. In a candid interview with The Associated Press, David admitted that he had lost “a lot of money” after FTX and its founder, Sam Bankman-Fried, faced serious legal troubles. Despite seeking advice from friends who assured him that it was a legitimate investment, David now refers to himself as “an idiot” for getting involved.
FTX’s Super Bowl Ad and Larry David’s Skepticism
In 2022, Larry David starred in FTX’s Super Bowl commercial, which showcased his character criticizing historical inventions and promoting FTX as a “safe and easy way to get into crypto.” However, even in the ad, David expressed skepticism about cryptocurrency. He stated, “Eh, I don’t think so. And I’m never wrong about this stuff — never.”
Legal Action Against Celebrities
Following FTX’s bankruptcy in November 2022 and the revelation of an $8 billion shortfall in the exchange’s accounts, Larry David and other celebrities who promoted FTX faced legal action. They were labeled as “brand ambassadors” for the crypto exchange and were held accountable for their involvement.
Hot Take: Larry David’s Regrettable Crypto Experience
Larry David’s foray into the world of cryptocurrency turned out to be a costly mistake. Despite seeking advice from knowledgeable friends, he suffered significant losses due to his association with FTX. This serves as a reminder that even well-known individuals can fall victim to fraudulent schemes or risky investments in the crypto industry. It highlights the importance of conducting thorough research and exercising caution before getting involved in any crypto-related ventures.
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