Trevor Lawrence and Two Other Celebrities Settle FTX Lawsuit

Crypto News
Crypto News

18 Sep 2023 6:06 AM

Three high-profile figures, including NFL quarterback Trevor Lawrence and popular YouTubers Kevin Paffrath and Tom Nash, have chosen to settle a lawsuit relating to their promotional activities for the now-defunct cryptocurrency exchange FTX. Read on to know more....

  • NFL quarterback Trevor Lawrence, YouTubers Kevin Paffrath and Tom Nash have settled a lawsuit related to their promotional activities for the now-defunct cryptocurrency exchange FTX.
  • The exact terms of the settlements have not been disclosed, but it has been confirmed that the three celebrities have chosen to settle the case.
  • The final court order formalizing the settlements is pending approval from U.S. Judge K. Michael Moore.
  • Confidential discussions are ongoing, indicating the potential for additional settlements in the future.
  • Crypto influencer Ben "BitBoy" Armstrong has been dismissed from the lawsuit as he did not serve an answer or motion for summary judgment.
  • The legal actions stem from sponsorship deals these individuals had with FTX before its collapse.
  • Lawrence, the NFL quarterback, faced allegations of misleading investors in FTX and reportedly settled the suit for an undisclosed sum.
  • Nash, a prominent YouTube influencer, was also a recipient of payments from FTX for endorsement purposes.
  • The lawsuit against Lawrence, Paffrath, and Nash is part of a broader legal action targeting celebrities who promoted FTX.
  • Legal action is currently underway against other celebrities, including Tom Brady, Gisele Bundchen, Shaquille O'Neal, and Naomi Osaka, who also endorsed the exchange.
  • Nash and other influencers removed content related to FTX and its founder from their channels after the exchange's collapse.
  • Paffrath publicly acknowledged his previous sponsorship by FTX and expressed regret over his association with the exchange.

The sentiment of the article is negative, as it discusses a lawsuit and the downfall of the cryptocurrency exchange FTX.

Go to publisher site

You May Ask

Who are the high-profile figures involved in the lawsuit settlement related to FTX?What is the status of the settlements and the approval process?Are there potential additional settlements in the future?Who else is facing legal action for endorsing FTX?How did Nash and other influencers respond to FTX's collapse?

Suggested Reads