FTX, a cryptocurrency exchange founded by Sam Bankman-Fried in 2019, was one of the most popular platforms for trading digital assets. The platform quickly gained traction due to its user-friendly interface, low fees, and wide selection of coins. In addition, FTX was able to attract some of the biggest names in the industry to endorse the platform.

Elon Musk, the founder of Tesla and SpaceX, was one of the most prominent celebrity endorsers of FTX. He tweeted in support of the platform multiple times, including one tweet that said “FTX is the best crypto exchange.”  Others, including Shaquille O'neal, Steph Curry and Naomi Osaka are now backpedaling fast from the avalanche of lawsuits that have come from their decision to endorse the exchange.


In addition to the celebrities mentioned above, FTX was also endorsed by popular YouTube personalities such as “The Crypto Lark” and “DataDash”. Both of them often praised the platform on their channels and encouraged viewers to try it out.

Unfortunately, FTX’s success was short-lived. In 2022, the platform filed for bankruptcy and was accused of fraud by the US Securities and Exchange Commission. The SEC alleged that FTX and its founder, Sam Bankman-Fried, had misled investors by providing false and misleading information about the platform’s financial condition.

The criminal allegations against Bankman-Fried and the subsequent bankruptcy of FTX have cast a dark shadow on the platform and its celebrity endorsers. While some of them have remained silent, others have publicly expressed their disappointment and regret over their involvement with the platform.

Overall, the story of FTX and its celebrity endorsers is a cautionary tale of how quickly a seemingly successful platform can go from being praised to being accused of fraud. While the platform’s celebrity endorsers may have been well intentioned, they ultimately failed to recognize the risks of investing in a platform with such a questionable background.