{"id":19053,"date":"2023-06-05T00:27:28","date_gmt":"2023-06-05T00:27:28","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-lawsuits-see-crypto-firms-influencers-dial-back-endorsement-deals\/"},"modified":"2023-06-05T00:27:31","modified_gmt":"2023-06-05T00:27:31","slug":"ftx-lawsuits-see-crypto-firms-influencers-dial-back-endorsement-deals","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-lawsuits-see-crypto-firms-influencers-dial-back-endorsement-deals\/","title":{"rendered":"FTX lawsuits see crypto firms, influencers dial back endorsement deals"},"content":{"rendered":"
Crypto influencers are taking an extra cautious approach to endorsement deals since the collapse of crypto exchange FTX last year, which has seen several celebrities hit with a lawsuit for their alleged role in its promotion.\u00a0<\/p>\n
In March, a $1 billion class-action lawsuit was filed alleging that eight influencers promoted \u201cFTX crypto fraud without disclosing compensation.\u201d <\/p>\n
Influencers told Cointelegraph that it has served as a wake-up call \u2014 those that endorse crypto firms need to understand their followers can take legal action against them in the future should that company turn unfavorable.<\/p>\n
For crypto vlogger Tiffany Fong, who gained fame by interviewing former FTX CEO Sam Bankman-Fried after the collapse, endorsing crypto firms on her social media isn\u2019t of interest to her at the moment.<\/p>\n