Celeb Promoters Sued for FTX Collapse Face Evidence from Former Exec


    • A class action lawsuit has been filed against celebrities who allegedly promoted the now-bankrupt FTX exchange.
    • Daniel Friedberg, former chief regulatory officer and compliance chief for FTX and FTX US, has provided a declaration to support the lawsuit.
    • This evidence could potentially prove that promotional activity for FTX originated from Florida, which would contradict some of the defendants’ claims that Miami court has no jurisdiction.

    Class Action Lawsuit Against Celebrity Promoters of FTX

    A class action lawsuit against celebrities who allegedly promoted the now-bankrupt FTX exchange has been filed in a Florida District Court. The suit was first filed in mid-November after the collapse of the exchange with some of its alleged celebrity promoters including Shaquille O’Neal, Larry David, Tom Brady and Sam Bankman-Fried.

    Former Exchange Executive Gives Cooperation

    Daniel Friedberg, former top compliance chief for FTX and FTX US, has provided a declaration that could support the lawsuit. In his sworn testimony he said Avinash “Avi” Dabir, vice president of business development for FTX US and based in Miami was responsible for brand ambassadors for the exchange, including defendants named in this case. He also said Dabir operated from an office in Miami “early in 2021” which refutes arguments made by some of those defendants attempting to dismiss this case due to lack of association with Florida.

    Evidence Could Rebut Key Defense

    The evidence provided by Friedberg could potentially rebut a key defense made by some defendants claiming that no conspiracy could have been “engineered in Florida” because FTX did not plan to move there until late September 2022 – before they entered into any alleged promotional agreements. Class action lawyers are using this information to amend their lawsuit to address these jurisdictional issues raised by defendants involved.

    Court To Decide Validity Of Evidence

    Ultimately it is up to the court to decide if this evidence is sufficient enough for their amended complaint as well as other claims being made by those involved in this lawsuit.


    This new evidence provided by Friedberg offers potential support for those affected by the collapse of FTX and could refute some claims being made by certain defendants at play here regarding lack of association with Florida or promotion activities taking place there prior to any promotional agreements entered into.