Larry David in particular made a point of never endorsing it - quite the opposite.
As for the others, if people listen to a football/movie/fashion/etc star for investment advice, I think they should know what to expect.
As for the others, if people listen to a football/movie/fashion/etc star for investment advice, I think they should know what to expect.
I'm sure he got paid well over $1M to say "meh FTX" or whatever it was.
So it depends on whether you think "endorsement" is "taking money to associate yourself with a company by appearing on video in their advertisement" or saying on the record "I endorse this company, I use their products, etc."
Most endorsements are now in the former category, although it does seem like modern podcasts also have explicit ones in the latter category too
10 million dollars, according to Michael Lewis in his recent 60 Minutes interview.
I also don't care that he endorsed them and don't think he's at all responsible for people losing money in crypto.
That was my first impulse, but then I realized that I would never do such a thing myself. And that really, the regulation should mainly be about protecting the interests of those that would. Adding a layer of bureaucracy and requiring promoters to due diligence, on the plus side it will help protect people, on the minus side it will cut into the margins of these celebrities and the industries around them, which could lead to the sector shrinking and worse entertainment. That tradeoff needs to be made with the people that stand to be affected the most in mind.
Promotors should be more responsible than the Regulators?
If it was obviously a fraud at the time, the police and SEC should have shut it down. Why expect some random celebrity to do more diligence and gatekeeping than the officials that license FTX?
If a product is legal to sell, and legal to advertise, then actors should not be held responsible.
FTX was in a legal gray area. They were using customer funds in part to make large campaign donations and influence the, at the time hotly debated, regulatory decisions about cryptocurrency.
The "random" celebrities were paid tens of millions of dollars, that's why.
It's a separate question about the failure of regulators and law enforcement. It turns out that more than one party can do something wrong.