The Super Bowl is known for its high-budget commercials featuring celebrities, and in 2022, FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, joined in on the action. In a commercial that cost $20 million to produce and air, Larry David appeared alongside Joseph Bankman, Bankman-Fried’s father.
According to reports, Bankman-Fried’s younger brother, Gabe, insisted on their father being a part of the commercial. This decision was made because their father, a Stanford University law professor, was too humble to ask for a cameo himself. The Bankman family, including Joseph Bankman, was a big fan of Larry David and loved the idea of him appearing in the commercial.
The scene depicted the founding fathers arguing over the Declaration of Independence, with Larry David’s character playing an uber-skeptic who rejects world-altering inventions. Bankman is seen in a similar costume, and when asked if the people should have the right to vote, he enthusiastically yells “Yes!”
At the end of the commercial, David’s character is offered a chance to embrace cryptocurrency, but he declines. In hindsight, fans of David note that he was correct in his prediction of cryptocurrency’s decline.
Since the airing of the commercial, Bankman-Fried’s crypto empire has faced troubles and he was indicted on fraud and money laundering charges. This has drawn increased scrutiny to the roles of Bankman and his wife, fellow Stanford law professor Barbara Fried, in the company. They have stated that their involvement was solely to support their son.
As the trial date approaches, Bankman-Fried’s parents’ involvement and the ownership of a $16.4 million mansion in the Bahamas have been brought to light. Bankman-Fried himself is currently housed in the Metropolitan Detention Center in Brooklyn after violating the terms of his bail.
David, along with other celebrity endorsers of FTX like Tom Brady, Gisele Bündchen, and Shaquille O’Neal, has been sued in class-action litigation by individuals who claim they were victimized by their promotion of the cryptocurrency exchange.
As the story continues to unfold, many are eagerly awaiting the trial and its outcome for Bankman-Fried and FTX, while also keeping an eye on the involvement of celebrity endorsers like Larry David.
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