NFL Star Trevor Lawrence and Youtube Influencers Settle Allegations Over FTX Endorsements
On Friday, Bloomberg’s Jef Feeley revealed that YouTube personalities Tom Nash and Kevin Paffrath, along with NFL star Trevor Lawrence, have settled allegations of misleading investors through their endorsement of the now-bankrupt crypto exchange, FTX. Lawrence, the quarterback for the Jaguars, joined FTX as a partner in April 2021. By May 2021, Lawrence announced intentions to transform his entire signing bonus into cryptocurrency. That year, his bonus was a staggering $24 million.
The renowned NFL quarterback is just one of many celebrities facing accusations of misleading investors through their FTX endorsements. Notably, Lawrence was part of a significant group of NFL players who embraced cryptocurrency in 2021, right before the crypto market soared to nearly $3 trillion in November. The settlement terms remain undisclosed by Lawrence and the Youtube duo. The attorneys spearheading the $1 billion lawsuit against FTX’s celebrity promoters informed Feeley that they’re currently in “ongoing confidential, settlement discussions” with other parties. They anticipate the “likelihood that other FTX settlements will be reached.” fullstory