One thing about humans is that, when things go wrong, they must always look for someone to blame, sadly these FTX celebrity ambassadors just have to get sued by angry investors. I think lots of celebrities will be learning a lot from all these, since the chances of these celebrities being in trouble is high when they shill or become an ambassador to a crypto project. We can see what happened to Kim Kardashian and Floyd Mayweather, how they got to settle for a payment after being sued by their fans for shilling a shitcoin, which they were paid to.
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We are seeing that happen with FTX celebrity ambassadors, FTX recruited a lot of celebrities from different countries. The irony of this is, these celebrity ambassadors are also as shocked as we all are because they were also deceived and made to use their social influence to help promote FTX lies. There are also the victim but unfortunate they got paid, because, in as much as FTX lied to the public, also used these celebrities to lie too.
Celebrities will have to distant theirselves from anything crypto endorsements, because it involves money and people investing their money and when it collapses, the fans of these celebrities start blaming the celebrity ambassadors for it. They need to lay a blame on someone, and it’s valid because, most of these fans who invested in FTX did so because they trusted that since their favorite celebrity is an ambassador then they can trust the platform. Not knowing that FTX has been a liar.
FTX did a great job acting and pretending to be what it’s not. Looking at the past, they paid Super Bowl for the 30 seconds advert, which was one of the biggest talk in crypto at that time. Do these fans need Sue Super Bowl too for allowing FTX advertise on their platform? These celebrities had no way to know that FTX had been a good actor acting at their lies.
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this doesn't just happen in crypto.
There are some artists who "promote a product" (such as trading robots, trading platforms, Ponzi schemes, even cosmetics) have no idea what they are actually promoting. Some of them even "tried" the products they were promoting and became victims.
Those ones that obviously know it’s a scam or Ponzi and still promote it are no different from evil people and are the real criminals.
Deserved it!
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lessons learnt for the next celebrities thinking of endorsing crypto
Yeah they should be sued , many of them do not have idea of what they are even promoting , they just promote it for their own selfish reasons , there are even some celebrities that promote ponzi schemes..
at this point any one doing it without doing their own research is just greedy
Crazy world we live in. When shit hits the fan, we go on a retrospection mode to figure out the cause of the issue and try bringing to light everything we found on the way. I personally think that these FTX celebrities are blameless. Because just like the investors, they also didn't know FTX was a Scam underneath. But since they're affluent and out there in the open, it's easy to shift the narrative and put the blame on them.
Exactly my point, they are just as clueless as the investors. Unfortunately they were made the face of FTX, the real criminal yeah is SBF