Brady, Curry, and Larry David Found Not Guilty in FTX Mess… Your Roth IRA, However, Is Still Screwed

When the FTX empire collapsed back in 2022 (which feels like yesterday), the internet grabbed its pitchforks and demanded blood. And not just from Sam Bankman-Fried or Caroline Ellison (his “maybe girlfriend, maybe finance goblin,” depending on which court sketch you saw). No, people wanted a celebrity purge.

Tom Brady. Steph Curry. Larry “I Told You So” David. Kevin “Shark Tank” O’Leary. Naomi Osaka. Shohei Ohtani. The list of FTX endorsers was longer than SBF’s to-do list before flying to the Bahamas with your money. The lawsuits came in hot, accusing these celebs of helping pump what turned out to be a $32 billion mirage. But this week, a Florida judge said they’re all innocent. U.S. District Judge K. Michael Moore ruled that the plaintiffs (aka angry FTX investors) didn’t prove the celebs actually knew SBF was building a Ponzi scheme disguised as a brogrammer utopia. So the claims are dismissed. Most of them, anyway.

According to the judge, the plaintiffs failed to “plausibly allege” that Tom Brady or anyone else had knowledge of FTX’s fraud or the “intent to deceive or defraud investors.” In other words: just because Larry David starred in an FTX Super Bowl ad where he literally said “I don’t think so”, that doesn’t mean he’s legally responsible when your buddy put his Roth IRA into FTT tokens.

Even the YouTubers got let off the hook. And you know it’s bad when we’re talking about the guys whose entire channel consists of “Why I’m 10Xing My Net Worth This Month” thumbnails. To be fair, this ruling doesn’t mean they were smart. It just means being gullible, negligent, or even reckless isn’t the same thing as being complicit in a $10 billion rug pull.

And yet… let’s not act like these folks were totally innocent. Brady, Curry, and Gisele took millions in endorsement money and helped add legitimacy to a platform with more red flags than a Chinese festival. They sold trust. The fans bought it. And now, many are broke, holding nothing but a screenshot of Steph Curry saying, “I’m not an expert, but I trust FTX.”

That said, if you put more than 1% of your savings into a crypto exchange run by a guy who dressed like a Trader Joe’s overnight stocker and played League of Legends during pitch meetings… some of that’s on you.

Now, there are still two claims lingering in court. And plaintiffs can amend their lawsuit and come back with more evidence. But unless someone finds a group chat where Tom Brady says “yo I think FTX is a scam but the bag is too big to pass up,” it’s probably game over.

On the other hand, Netflix is circling the wreckage like a buzzard with a production budget. Word is Evan Peters might play SBF, while Julia Garner could play Caroline Ellison. Because of course the story about a guy who lost $8 billion and tried to blame ADHD is getting the Hollywood treatment.

But anyways, the moral of the story is that celebs who endorsed FTX (Brady, Curry, Larry David, etc.) are mostly off the legal hook. Turns out you can sell snake oil as long as you don’t know it’s snake oil.

PS: It’s a mess out there.

One day the market’s ripping, the next day it’s Black Monday all over again. Recent earning’s reports have been a total coin flip. One stock beats and explodes 30%… the next misses by a penny and gets sent to the Shadow Realm. And through it all, everyone’s begging for Jerome Powell to finally cave and cut rates.

But underneath all the panic headlines (“Inflation too sticky!” “Recession imminent!” “Tariffs round 4 incoming!”) something wild is happening…

We’re seeing violent price action. Especially in the small-cap space, where low floats and high anxiety are creating the perfect recipe for 100%+ pops before lunchtime. Some of these names are moving 200%+ in under 24 hours… and to our knowledge, NO ONE else is covering them.

Except us.

Stocks.News Premium members are getting first dibs on these stealth explosions… thanks to our squeeze signal scanner and real-time insider trading tracker that zeroes in on the money before the momentum shows up.

If you’ve been whiplashed by this market or feel like your strategy is stuck in 2022, it’s time to flip the script.

Premium gets you:

• Two breaking trade alerts per week
   
• Access to the same scanners we use to track CEO buys and Capitol Hill moves
   
• Our custom market sentiment tool (that actually works)
   
• Premium stock writeups packed with actual analysis (that’s not boring)

Go here to become a Stocks.News Premium member now.

Stock.News does not have positions in companies mentioned.