The comedian who encouraged Super Bowl viewers not to “miss out” on crypto said he “lost a lot of money” after doing an ad spot for FTX.
American comedian Larry David, co-creator of the television series Seinfeld and creator of Curb Your Enthusiasm, spoke out about his appearance in an ad spot promoting failed cryptocurrency exchange FTX.
In an Associated Press interview released on Jan. 31, David said he had consulted with friends “who were well-versed in this stuff” before agreeing to appear in a Super Bowl commercial promoting FTX. The ad, which aired during Super Bowl LVI in February 2022, encouraged millions of viewers not to “miss out on the next big thing” and featured David rejecting a series of sound investments before making the same decision on crypto.
“So, like an idiot, I did it,” said David.
The comedian said he “lost a lot of money” after doing the ad spot as part of his salary had been in crypto. He hinted at some of the class-action lawsuits he faced with other celebrities who promoted FTX. The plaintiffs in those cases alleged David didn’t perform due diligence on the exchange before agreeing to promote FTX.
FTX filed for bankruptcy in November 2022, roughly nine months after David’s ad spot aired. Former CEO Sam Bankman-Fried was arrested, charged, and convicted of multiple felony counts related to the misuse of funds between the exchange and Alameda Research. He is scheduled to be sentenced in March.
Super Bowl LVIII, scheduled to take place on Feb. 11 between the San Francisco 49ers and the Kansas City Chiefs, is expected to draw a massive audience in part due to the attendance of singer-songwriter Taylor Swift, whose boyfriend Travis Kelce plays tight end for the Chiefs. Crypto ads were noticeably absent from Super Bowl LVII in 2023 following the collapse of FTX and other firms. It’s unclear if any companies are pto release commercials for the big game in 2024.