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New lawsuit accuses social media, YouTube influencers of hypin | Crypto World Analysis

New lawsuit accuses social media, YouTube influencers of hyping FTX without proper disclosure

A
lawsuit filed Wednesday named a group of social media influencers and claimed they "actively promoted FTX" to their millions of followers" without disclosing the nature of any payments or compensation. Among the influencers are Erika Kullberg, Ben Armstrong — also known as BitBoy in crypto circles — and Kevin Paffrath, or "Meet Kevin" on YouTube.

The lawsuit alleges that some of the creators, namely Paffrath as well as Graham Stephan and Tom Nash, "have now scrubbed their YouTube channels of all video clips endorsing FTX and praising Sam Bankman-Fried.". In place of that, the lawsuit says creators posted apologetic messages about their representation of the crypto exchange, which is facing investigations from regulators in the U.S. and abroad and could owe as much as $3.1 billion to its top 50 creditors. Representing the plaintiffs is Adam Moskowitz of the Moskowitz Law Firm, who was also involved in a separate FTX-related lawsuit blaming Tom Brady.

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@CryptoWorldAnalysis