On Wednesday, several social media users became the subject of a fresh class-action lawsuit targeting digital content creators who "actively promoted FTX" and failed to disclose their financial relationship to the now collapsedcryptocurrencies firm
The creators of FTX are being sued by Americans and non-Americans. The case is being brought by Adam Moskowitz, who is also pursuing a different lawsuit against Tom Brady, Gisele Bndchen, Larry David and other A-listers for promoting FTX.
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The new lawsuit named a number of social media stars as defendants.
According to the lawsuit, the social media stars scrubbed their channels of all video clips that supported FTX and praised Sam Bankman- Fried. They apologized on their channels.
Kevin Paffrath, star of "Meet Kevin's", admitted that he used to be sponsored by FTX. I don't think that's a good idea. It's a scar. It's not good. People got hurt because of that, so I would change it. I don't feel right about that. The people got hurt because of FTX.
His videos have reached more than 600 million views on the internet. Paffrath and other social media stars didn't compensate users who were facing losses after they took their advice on YouTube.