“The reality is, people have to dress big and realize that if you make a decision because of what you hear online, it’s your responsibility,” he says.
Opinions were divided in the comments section. Some praised Plafus’s transparency, while others criticized him. “Content creators should also be more careful about who they endorse,” wrote one. “Especially if it’s a paid endorsement.”
“Yeah,” Plafus replied in a comment. “Everyone learns.”
The lawsuit, filed Wednesday in the Southern District of Florida, claims that a group of eight YouTubers and the influencer management firm Creators Agency, which had many clients who promoted FTX, were accused of “promoting, supporting, and/or of “unregistered securities” by crypto companies. The filing cites high-interest accounts where customers can store their cryptocurrency holdings.
The lead plaintiff in this action is Edwin Garrison, a resident of Oklahoma. another Celebrities such as Tom Brady and Gisele Bundchen have filed class action lawsuits alleging their involvement in promoting FTX. Garrison’s attorney, Joseph Kaye, of Moskowitz Law Firm, previously told BuzzFeed News that his client was trying to save money for his granddaughter and lost all of his investment.
FTX investors from around the world, including the UK and Australia, have joined Garrison in the lawsuit against the YouTuber. Attorney Adam Moskowitz, representing the plaintiffs, told BuzzFeed News: Today, they are heavily paid to play key roles in social media and make financial decisions. ”
In the aftermath of FTX’s demise, some of the YouTubers named in the lawsuit have posted videos apologizing for their role in promoting the company.
“I used to be sponsored by FTX. That’s why,” Plafus said. SaidStephen said November video“At the most basic level, it was a mistake to think that Sam Bankman-Fried’s image had anything to do with his credibility.”
The influencer named in the lawsuit did not respond to BuzzFeed News’ request for comment. But Anderson, who runs the BitBoy Crypto channel, said: Said The press deciphers that he was never paid by FTX and intends to counterclaim.
In a video about the lawsuit, Prafus admitted that while promoting FTX, the exchange had no money and no losses. However, he said he lost $420,000 on another cryptocurrency investment.
“I have always believed that cryptocurrencies are speculative and poorly regulated,” he says. Praffath has removed a video of him promoting FTX.
