Larry David Opens Up About Crypto Ad Backfire

Renowned comedian Larry David, who co-created Seinfeld and wrote Curb Your Enthusiasm, opened out about his disturbing encounter with a bitcoin commercial that went wrong. Known for his sharp mind and sense of humor, David talked with the Associated Press on January 31 to discuss the fallout from his involvement in an advertisement for the now-closed cryptocurrency exchange FTX.

David said that before deciding to appear in a Super Bowl advertisement supporting FTX, he had asked people “who were well-versed in this stuff” for guidance. The commercial, which ran during February 2022’s Super Bowl LVI, exhorted viewers not to “miss out on the next big thing.” It showed David rejecting traditional investing and choosing to use cryptocurrencies instead.

“So, like an idiot, I did it,” David remarked, acknowledging the decision-making misstep that led him to associate with FTX in the crypto promotion.

A Costly Gamble

The repercussions of David’s involvement in the FTX crypto ad became apparent as he disclosed having “lost a lot of money” following the campaign. Part of his compensation for the endorsement had been in cryptocurrency, aligning his financial fate with the volatile market.

The comedian made reference to the legal troubles he and other celebrities who supported FTX had. David and his colleagues became the focus of class-action lawsuits claiming that they neglected to conduct due investigation on the exchange before endorsing it.

In the realm of celebrity endorsements and cryptocurrency advertising, Larry David’s experience serves as a cautionary tale as the repercussions unfolds. In addition to having an adverse effect on financial results, the inherent dangers and volatility of the cryptocurrency market have also created legal entanglements for those connected to unsuccessful projects such as FTX.

David’s open disclosure sheds light on the challenges that celebrities encounter while juggling their careers, personal lives, and the always changing cryptocurrency landscape.