Overview
- Taylor Swift signed a sponsorship deal with FTX worth $100 million, but the agreement fell through when FTX founder Sam Bankman-Fried backed out.
- Tom Brady and Gisele Bündchen earned $30 million and $18 million in FTX stock, respectively, to endorse the now-bankrupt company.
- Other celebrities like Paris Hilton, Snoop Dogg, Reese Witherspoon and Matt Damon promoted cryptocurrencies but lost money when the market crashed.
- FTX paid celebrities like Kim Kardashian, Lindsay Lohan and Shaquille O'Neal to endorse their company but now face legal consequences.
- Charging crypto companies with offering unregistered securities has become more common according to SEC chairman Gary Gensler.