Influencers Who Promoted FTX Face $1B Class-Action Lawsuit

A class-action lawsuit being headed by Eric Garrison is taking aim at those dubbed “FTX influencers” who promoted now-defunct crypto exchange FTX.

Respondents are named as Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg and Creators Agency LLC.

The lawsuit alleges that, “Though FTX paid Defendants handsomely to push its brand and encourage their followers to invest, Defendants did not disclose the nature and scope of their sponsorships and/or endorsement deals, payments and compensation, nor conduct adequate (if any) due diligence.”

The complainants are demanding a sum of over $1B.

Some of the influencers are already hitting back at the lawsuit, with Armstrong for example tweeting, “Countersuit coming. The lawyers on this case can’t possibly be more stupid. I’ve never had contact with anyone at FTX and never even had a reflink.

Show me you are dumb without telling me you are dumb.

I’m going to roast these Low IQ plebs and their lawyers.”