A $1 billion class action lawsuit has been filed to many social media influencers for actively promoting the bankrupt cryptocurrency exchange FTX in the past.
The shadow of the bankrupt cryptocurrency exchange FTX also fell on the phenomena. Edwin Garrison led by USA Florida Southern District in court March 15 Several phenomena were targeted for promoting FTX in a class action lawsuit launched on. In particular, in the complaint YouTube in the content on For actively promoting FTX the phenomena at the center of the case deleted the videos in question from their accounts after the bankruptcy was also included.
While the lawsuit basically does not criminalize the introduction of FTX, paid for promotion but in any of its publications “sponsored content” It was suggested that they did not include the phrase:
While FTX has paid the defendant influencers large sums to promote its brand and encourage its followers to invest, the defendants have not disclosed the nature and scope of their sponsorship and/or endorsement agreements and have failed to provide adequate (if any) due diligence.
Names at the center of the $1 billion lawsuit Kevin Paffrath, Graham Stephen, Andrew Jikh, jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, I Armstrong (BitBoy), Erika Kullberg And creators Agency LLC specified as.
claimants Moskowitz Law Firm represents. According to the law firm, the case consists of a combination of several class action lawsuits. The case is in the USA First class action lawsuit filed against FTX described as.