💰 'FTX influencers' face $1B lawsuit
💰 'FTX influencers' face $1B lawsuit
Over alleged crypto fraud promotion
Hey Waivly Crew! 🌊 YouTubers that promoted FTX are being sued in a new class action lawsuit. Salesforce has launched an NFT management platform to help brands build digital communities.
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YouTubers hit with $1 billion lawsuit for promoting FTX
A new class-action lawsuit alleges that several well-known finance YouTubers should be held responsible for promoting FTX before its collapse.
The lawsuit seeks over $1 billion in damages and names Kevin “Meet Kevin” Paffrath, Graham Stephan, Andrei Jikh, Brian Jung, Jeremy “Financial Education” Lefebvre, Tom Nash, Ben “BitBoy Crypto” Armstrong, Erika Kullberg and Creators Agency LLC.
The defendants are eight YouTubers, the talent management company that handled the promotion, and the agency’s founder. According to the lawsuit:
“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 lawsuit states the defendants are “influencers” who “present themselves as real-life consumers who share authentic and valuable information with their followers.”
The defendants promoted yield-bearing accounts offered by FTX, the lawsuit claims, adding that the exchange was a “fraudulent scheme designed to take advantage of investors from across the globe.”
Following the collapse of FTX, several of the defendants “scrubbed their YouTube channels of all video clips endorsing FTX and praising Sam Bankman-Fried” and replaced them with apology videos,” the lawsuit notes.
The lawsuit is led by Edwin Garrison, a private investor who also filed a lawsuit against former FTX CEO Sam Bankman-Fried, plus celebrity promoters like Tom Brady, Stephen Curry, Shaquille O’Neal, Gisele Bundchen, Kevin O’Leary, and others.
The Waves
🌊 Ledger debuts browser extension to enhance crypto security
🌊 Microsoft is releasing Copilot for Microsoft 365
🌊 NFT website Formfunction to shut down on March 29
🌊 Crypto assets to become a separate category in UK tax forms
Discover more Waves in the Waivly Discord. Click here to get onboard! 🌊
NFT Special
Salesforce Web3 to help brands build trusted NFT programs
Salesforce, a customer relationship management software firm, announced the limited release of “Salesforce Web3” on Wednesday.
The company said it will be a platform that helps companies create, manage, and deploy NFTs in a trusted, scalable, and sustainable way.
Notably, the new service will allow companies to connect with their customers in a whole new way by integrating their Customer360 with Web3 data.
According to a blog post, Salesforce Web3 offers a range of features that enable brands to “create personalized, omnichannel experiences across Web2 and Web3, providing a 360-degree view of how customers interact with their NFT collections.”
The company also partnered with global consulting firms like Accenture and Deloitte Digital, as well as digital agencies and strategy consultants like AE Studio, Media.Monks, TIME, and Vayner3, to help businesses implement Web3 and experiment with blockchain, digital wallets, and NFT minting.
The launch follows a pilot program of 257,000 transactions with Salesforce clients such as whisky brand Crown Royal, clothing brand Scotch & Soda, and Mattel, the toy company behind Hot Wheels.
Daniel Allan raises $1M artist seed round
One of Web3’s breakout artists, Daniel Allan, has raised $1 million to propel his career in the first-ever artist seed round.
The round was led by Coop Records with participation from Palm Tree Crew Crypto, Noise DAO, Woodstock DAO, Fire Eyes DAO, and several prominent angel investors.
“Daniel is pioneering what it means to be an artist in web3. As someone who’s been lucky to support him since day one, Coop Records is excited to double down on what we believe will be a breakout case study for years to come” said Cooper Turley, founder of Coop Records.
To celebrate the raise, Daniel has dropped a new single with DLG. The track can be collected for 0.003 ETH ($5) Sound.xyz.
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Waivly Jobs Highlights
👩💻 Head of Blockchain at cLabs
👩💻 Blockchain Developer at Lemon.io
👩💻 Data Scientist at Flashbots
👩💻 Senior Cryptographer at Aztec
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