Class Action Seeks $1B From Influencers Who Endorsed FTX [ Crypto Espresso 3.17.23 ]

Oh it's Friday already great great I'm Your host Andrew and in addition to Copious amounts of milk newborns also Devour time itself but I guess that's What I get for marrying a fourth Dimensional agent on God anyway this is Crypto espresso your teeny tiny daily Shout of caffeinated crypto headlines And we're just gonna zoom into the news First up nine top crypto influencers are Being sued for their endorsements of FTX To the tune of one billion dollars it's Alleged that they promoted the now Bankrupt exchange and yield bearing earn Accounts without disclosing how much Compensation they received those behind The class action lawsuit believe it may Be one of the only avenues for any of The victims to recover any of their Damages one of those named in court Filings Kevin pathrath allegedly earned 2 500 anytime he mentioned FTX and he's Since described his sponsorship deal as A disgrace and a scar in a video he had Added if I could go back I would change It because people got hurt because of That I feel so terribly about that People got hurt because of Ft X and it's A disgrace meanwhile ftx's New Management has claimed that Sam bankman Freed pulled 2.2 billion dollars in Payments and Loans out of his companies Meanwhile a further five top Executives Took one billion dollars out between

Them this was partly possible because of What new CEO John Ray calls a complete Failure of corporate controls in an Industry long accused of being male Dominated the only woman on the list Elevator research CEO Carolyn Ellison Took home just six million dollars far Less than anyone else some 587 million Dollars more went to ftx's then head of Engineering nishad Singh with Gary Wong Getting 246 million dollars and Ryan Salam 87 million staggeringly this Figure doesn't even include the 240 Million dollars that was spent on luxury Properties in the Bahamas and political And charitable donations the FBI saw a Big jump in crypto investment scams this Year jumping from 907 million dollars in 2021 to 2.57 billion dollars last year Worse these types of scams accounted for 77 percent of all incidents reported to The internet crime complaints Center in A new warning to the public the FBI says Crypto investment scams saw Unprecedented increases in the number of Victims and the dollar losses to these Investors many victims have assumed Massive debt to cover losses from these Fraudulent Investments more than 31 000 Such crimes went reported with people Aged 30 to 49 the most common victims Among the most frequent schemes or those Focused on liquidity mining hacked Social media and celebrity

Impersonations speaking of celebrities Hey let's let Morgan Freeman read the Next story oh thank you Andrew a dow Formed by people I'm kidding that was me Adele formed by people whose passions Lie at the intersection of crypto and Golf has proved that you can buy a Multi-million dollar Scottish golf Course by selling nfts links Darrow a Crypto-centric community of some 5400 Golfers submitted the winning bid for The spay Bay Golf Club designed in 1907 By the noted golf course architect Ben Sayers founded in late 2021 at the Height of the crypto bull market links Dow raised what was then 10.5 million Dollars worth of eth by selling nfts That provide two levels of membership Global and Leisure these provide varying Levels of governance votes and the right To buy individual or family memberships In the actual golf courses purchased Spay Bay being the first to assuming the Deal closes and finally the blockchain Association has submitted Freedom of Information Act requests to the Federal Reserve and the FDIC seeking documents And Communications involving the Debanking of crypto firms in the U.S This all follows the dramatic collapse Of silvergate Silicon Valley Bank and Signature Bank head of policy Jake Chavinsky tweeted there are troubling Reports of crypto companies having their

Bank accounts closed often with no Notice and no explanation they've Struggled to open new accounts too this Disturbing Trend suggests that Regulators are trying to cut crypto Entirely out of the banking system a High-ranking congressman has also Accused Regulators of using the crisis To choke off digital assets and speaking Of Choke don't choke when it comes to Performing the most important steps of Friday and those steps are liking this Video subscribing to our YouTube channel And clicking on that little bell icon to Get buzzed whenever a new crypto Espresso video goes live thoughts on Today's episode well I don't know what To tell you still no comments questions About our headlines or crypto in general Take the plunge to the description below This video ask Alex there since Alex is A great resource for all things web 3 And the metaverse and that about does it For today and the week again I've been Your host Andrew these have been your Headlines and ladies and gentlemen The weekend See you Monday


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