YouTube Influencers Face $1 Billion Lawsuit for FTX Promotion
- Plaintiff Edwin Garrison is claiming $1 billion in damages in a lawsuit against YouTube Influencers.
- Garrison claims the influencers actively marketed FTX without disclosing the nature of their paid endorsements to their followers.
- Meet Kevin, BitBoy Crypto, and LegalEagle voiced their opinions on the matter.
On March 15, Plaintiff Edwin Garrison filed a class action lawsuit claiming $1 billion in damages against YouTube Influencers who promoted FTX. The lawsuit seeks to hold influencers liable for FTX investors’ losses. Accordingly, outsider experts and some defendants voiced their opinions.
According to the court document, the class action complaint claims that YouTube influencers should be held accountable for promoting FTX. In detail, the plaintiff claims that the YouTubers provided financial advice and actively marketed FTX to their millions of followers without revealing the nature of their sponsorship and/or endorsement relationships to their audience.
Though FTX paid Defendants handsomely to push its brand and encourage their followers to invest, Defendants did not disclose the nature and scope of their sponsorships and/or endorsement deals, payme…
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