YouTubers Sued for $1 Billion for Promoting FTX
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On March 15th, a class-action lawsuit seeking $1 Billion was filed against a group of YouTubers and content creators for their role in promoting FTX and their sale of unregistered securities, in the form of yield-bearing accounts (YBA).
The lawsuit claims that "FTX could not have arisen to such great heights without the massive impact of these Influencers, who hyped the Deceptive FTX Platform for undisclosed payments ranging from tens of thousands of dollars to multimillion dollar bribes".
The Defendants of the lawsuit are Kevin Paffrath, Graham Stephan, Andrei Jikh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg, and Creators Agency, which is a a talent management firm and digital ad network.
The lawsuit was filed in Florida’s Southern District Miami Division Court by Oklahoma resident, Edwin Garrison, and the lawsuit includes plaintiffs from Florida and the United Kingdom.
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