Steph Curry Allegedly Paid $35M For Promotion Of Failed FTX Cryptocurrency
Author Michael Lewis alleges disgraced FTX CEO Sam Bankman-Fried paid NBA All-Star Steph Curry $35 million for 60 hours promotion, SF Gate reports.
During an interview on CBS’ 60 Minutes promoting his new book, Going Infinite: The Rise and Fall of a New Tycoon, Lewis said he met with Bankman-Fried over 100 times, where he got a look at some internal FTX documents showing how much partnering celebrities made for working with the company.
“He paid Tom Brady $55 million for 20 hours a year for three years,” Lewis said. “He paid Steph Curry $35 million for the same thing for three years.”
An ad featuring Curry, which can now only be found on YouTube, painted the facade that he could still succeed in the crypto world without being an expert since FTX made things so easy.
Bankman-Fried is facing federal charges of wire fraud and money laundering, with a trial starting on Oct. 10—the same day Lewis’ book is available to the public. Curry has been listed in a class-action lawsuit against the failed company and its supporters.
Curry joined the company as a global ambassador with an equity stake in 2021. FTX welcomed the Golden State Warrior with open arms in a since-deleted post.
“Welcome to the FTX Team, NBA Superstar Stephen Curry!” the tweet said, according to AfroTech. “We’re excited to announce he’s become FTX Global Ambassador and a shareholder. Though, who better to announce it than @StephenCurry30 himself.”
The cryptocurrency exchange folded a year later in November 2022.
NBA legend Shaquille O’Neal and tennis pro Naomi Osaka were also listed in the lawsuit that claims the celebrity endorsements of FTX were “fraudulent.” To add insult to injury, Shaq was served during the playoff game between the Boston Celtics and the Miami Heat. Court filings report that Osaka allegedly pocketed over $300K, and O’Neal reportedly received close to $750K from FTX.