The suggested agreements involving Lawrence, a standout player for the Jacksonville Jaguars, and popular YouTube influencers Kevin Paffrath and Tom Nash, were mentioned in an official court submission.
By Pradeep Saran
Sep 18 , 2023, 10:55 AM
Three well-known celebrity endorsers of the now-defunct FTX cryptocurrency exchange, including NFL quarterback Trevor Lawrence, have reached agreements to settle allegations of their involvement in misleading investors who suffered significant losses during the collapse of Sam Bankman-Fried’s digital asset empire.
These settlement agreements involving Lawrence, who plays for the Jacksonville Jaguars, as well as YouTube influencers Kevin Paffrath and Tom Nash, were mentioned in a court filing made on Friday. The specific terms of these settlements have not been disclosed to the public.
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These settlements are occurring in the lead-up to the trial of Sam Bankman-Fried, set to commence next month in a Manhattan federal court. Bankman-Fried is facing criminal charges related to his alleged orchestration of a multibillion-dollar fraud leading up to the collapse of the FTX exchange in November of the previous year.
Several other prominent celebrities who endorsed FTX, such as Tom Brady, Gisele Bundchen, Shaquille O’Neal, and Larry David, have also faced lawsuits in connection with their endorsements. These class-action lawsuits against the celebrity endorsers have been consolidated and are being heard by a federal judge in Miami. Simultaneously, separate complaints have been filed against venture capital and private equity firms like Sequoia Capital and Thoma Bravo, which had invested in FTX, with allegations that they facilitated Bankman-Fried’s actions.
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