{"id":40933,"date":"2022-11-22T04:14:57","date_gmt":"2022-11-22T08:14:57","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=40933"},"modified":"2022-11-22T04:14:59","modified_gmt":"2022-11-22T08:14:59","slug":"texas-authorities-to-probe-celebrities-for-ftx-promotion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/texas-authorities-to-probe-celebrities-for-ftx-promotion\/","title":{"rendered":"Texas authorities to probe celebrities for FTX promotion"},"content":{"rendered":"\n
The Texas State Securities Board is allegedly scrutinizing Tom Brady of the NFL and Stephen Curry<\/a> of the NBA for payments received to promote FTX exchange.<\/h5>\n\n\n\n
\"Texas
Texas authorities to probe celebrities for FTX promotion<\/figcaption><\/figure>\n\n\n\n

According to a report by Bloomberg on November 22, Joe Rotunda, director of enforcement at the Texas State Securities Board\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, said that the board is looking closely at the sums paid to celebrities to promote FTX US, the disclosures issued, and the investor accessibility of those disclosures.<\/p>\n\n\n\n

The celebrity endorsements of FTX, according to Rotunda, were not an “urgent priority,” despite the watchdog taking a “hard look” at them; instead, they will be examined as part of the “regulator's overall examination into FTX's collapse<\/a>.”<\/p>\n\n\n\n

Along with the former FTX CEO Sam Bankman-Fried, Brady and Curry have also been named in a class action complaint filed against FTX on November 15.<\/p>\n\n\n\n

They “managed, promoted, helped with, and actively engaged,” according to the complaint, in FTX Trading LTD and West Realm Shires Services Inc.<\/p>\n\n\n\n

Model Gisele Bundchen, the Golden State Warriors basketball franchise, NBA star Udonis Haslem, and Seinfeld co-creator Larry David are all included in the class action lawsuit<\/a>.<\/p>\n\n\n\n

In the past, research has shown that over half of retail investors would blindly abide by the recommendations for digital assets made by celebrities and influencers on social media. As a result, a few have used their power to promote cryptocurrency goods and projects.<\/p>\n\n\n\n

The United States Securities and Exchange Commission (SEC) penalized reality TV star Kim Kardashian<\/a> in October for “touting on social media” about the EMAX without revealing she was paid $250,000 to tweet about it.<\/p>\n\n\n\n

Kardashian resolved the accusations and agreed to stop promoting cryptocurrency assets until 2025, but she has not confirmed nor disputed the SEC's claims.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Texas State Securities Board is allegedly scrutinizing Tom Brady of the NFL and Stephen Curry of the NBA for payments received to promote FTX exchange. According to a report by Bloomberg on November 22, Joe Rotunda, director of enforcement at the Texas State Securities Board , said that the board is looking closely at […]<\/p>\n","protected":false},"author":12,"featured_media":7166,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[4595,778,12362,581],"class_list":["post-40933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-celebrities","tag-ftx","tag-promotion-2","tag-texas"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/FTX-wallet-now-supports-BUSD-and-BNB-token-withdrawals.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=40933"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/40933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7166"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=40933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=40933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=40933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}