Celebrities including NFL star Tom Brady and comedian Larry David have been named in a class-action lawsuit against cryptocurrency exchange FTX, accusing them of being culpable for promoting the failed firm.
FTX, one of the world’s biggest cryptocurrency exchanges, went bankrupt last week– a staggering reversal of fortune for a firm once valued at $32bn.
The Bahamas-based company and its founder, Sam Bankman-Fried, are under investigation by state and federal authorities for allegedly investing depositors’ funds in ventures without their approval.
Before it went under, FTX was known to use high-profile figures to promote its products.
It also had the naming rights to a Formula One racing team, as well as a sports arena in Miami.
Its adverts featured Seinfeld creator David, as well as Brady, the star quarterback of the Tampa Bay Buccaneers, basketball players Shaquille O’Neal and Stephen Curry, and tennis star Naomi Osaka.
The lawsuit, filed late on Tuesday, alleged these stars brought instant credibility to the platform, and are therefore just as culpable as Mr Bankman-Fried.
It is not the first time a celebrity has fallen foul of cryptocurrency promotion. In October, Kim Kardashian agreed to pay $1.26m (£1.12m) to settle charges over a post on her Instagram.
The reality TV star failed to disclose she was paid $250,000 (£220,000) for promoting a cryptocurrency asset on her feed.
“Part of the scheme employed by the FTX Entities involved utilising some of the biggest names in sports and entertainment – like these defendants – to raise funds and drive American consumers to invest … pouring billions of dollars into the deceptive FTX platform to keep the whole scheme afloat,” the lawsuit said.
Class-action lawyer Adam Moskowitz filed the lawsuit in the southern district of Florida.
The crisis has raised further questions about the regulation of cryptocurrencies and other digital assets.
The US House of Representatives Financial Services Committee said it expects to hear from Mr Bankman-Fried, who now faces potential civil and criminal charges.
“The fall of FTX has posed tremendous harm to over one million users, many of whom were everyday people who invested their hard-earned savings into the FTX cryptocurrency exchange, only to watch it all disappear within a matter of seconds,” committee chairperson Maxine Waters said.
Singapore’s finance minister and deputy prime minister said the collapse of the FTX exchange has “very serious allegations that amount to potential fraud”.
Lawrence Wong said recent developments in the crypto market reinforced the city-state’s position that they were “on the right track” in focusing on digital assets innovation, but also taking a strong stance against crypto speculation and trading by retail investors.
Rick Davies, a founding member of the British rock group Supertramp, has died.
The 81-year-old, who had been battling multiple myeloma – a type of blood cancer – for the last decade, died on Saturday, a statement from the band said.
The band’s lead singer wrote many of their hits, including Breakfast In America and The Logical Song, alongside Roger Hodgson.
Image: Supertramp’s Richard Davies, Roger Hodgson, Richard Palmer, Robert Millar and David Winthrop. Pic: PA
The band’s statement, posted with a photo of Davies walking his dog by the sea and soundtrack of Goodbye Stranger, paid tribute to both his musical legacy and his warm personality.
The statement read: “As co-writer, along with partner Roger Hodgson, he was the voice and pianist behind Supertramp’s most iconic songs, leaving an indelible mark on rock music history.
“His soulful vocals and unmistakable touch on the Wurlitzer became the heartbeat of the band’s sound.”
“Beyond the stage, Rick was known for his warmth, resilience, and devotion to his wife Sue, with whom he shared over five decades,” the band said.
“After facing serious health challenges, which kept him unable to continue touring as Supertramp, he enjoyed performing with his hometown buds as Ricky and the Rockets.
“Rick’s music and legacy continue to inspire many and bear testament to the fact that great songs never die, they live on.”
Born in Swindon, Wiltshire, in 1944, Davies’s love of music began in his childhood, the group said, listening to Gene Krupa’s Drummin’ Man, which sparked a lifelong passion for jazz, blues and rock ‘n’ roll.
Davies and Hodgson formed the band that would become Supertramp in 1969.
Image: (L-R) Rick Davies and John Helliwell in 2002. Pic Reuters
The line-up changed numerous times over the years, with the band best remembered for the period from 1973 to 1983, when Davies and Hodgson performed with Dougie Thomson on bass, Bob Siebenberg on drums and John Helliwell on saxophone.
Crime of the Century, their breakthrough album, came out in 1974, followed by their biggest hit in 1979 with Breakfast In America, and hit singles The Logical Song, Breakfast in America, Goodbye Stranger and Take the Long Way Home.
Amid creative disputes, Hodgson left the band to go solo in 1983. Davies eventually became the only constant member throughout its history.
While a reunion tour was announced in 2015, it was cancelled when Davies was diagnosed with cancer.
He settled a royalties lawsuit in 2023 after a long-running dispute with ex-bandmates. Just last month, a US appeals court ruled that Hodgson must share royalties for three of Supertramp’s songs with his ex-bandmates.
Davies leaves behind his wife Sue, who had managed the band since the mid-80s.
Lady Gaga has led the MTV Video Music Awards (VMAs), with four wins including artist of the year. Ariana Grande and Sabrina Carpenter took three awards each.
It was a night dominated by women, with female stars bagging all the awards, with the exception of Bruno Mars for his collaborations with Gaga and Blackpink member Rose.
Mariah Carey collected her first-ever VMA award, swiftly followed by a second when she was awarded the Video Vanguard award.
And tribute was paid to Ozzy Osbourne, who died in July, with Yungblud and Aerosmith’s Steven Tyler and Joe Perry performing Black Sabbath classics, introduced by Jack Osbourne and his four daughters.
Crystal was 18 when bone cancer changed her face. On top of chemotherapy and operations, she had to deal with other painful realities too.
She told Sky News: “Pre-cancer, and everything that happened I wasn’t aware how people who had facial differences were villainised or victimised.
Image: Crystal before her diagnosis
“Experiencing that, seeing the trauma, I’ve been so affected by people staring at me in the street, and hate comments about my appearance.”
She believes part of the problem is the screen portrayal of visibly different characters: “There’s a narrative in Hollywood, especially that’s been going on for years, that people are not addressing and seeing that these are real people.”
Refusing to let her differences keep her from pursuing her dreams, Crystal studied acting at LAMDA, one of the UK’s top drama schools.
Now a professional actress, she knows her appearance will always be judged.
“[My visible difference] is on my face. I can’t really hide anything. Every time I talk or enter a room, it’s not like anyone’s fault, I just know that people have that first perception or viewpoint of me.”
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With aspirations to one day appear in a Marvel movie, she hopes her drive to perform will help others in the future.
“I didn’t have anyone who looked like me as a role model… It would have just been so much better if I’d had that one person to look up to, to be inspired by.”
Image: Crystal graduated from LAMDA in 2024
Lack of representation is not the only problem. When visible difference does make it onto the screen, misrepresentations and negative overtones often reinforce stigma.
Nearly one in five people in the UK self-identifying as having a visible difference, such as a mark, scar or condition, according to charity Changing Faces.
New research they conducted into the way disfigurement is portrayed on screen found that people with visible differences were over twice as likely to be shown as a victim or a villain than as a love interest.
Film and television have used scars, burns and birthmarks as a shorthand for villainy across the genres for years. From Bond to Batman and Star Wars, to more family-friendly productions such as The Lion King.
Image: Heath Ledger as the infamous Joker. Pic: Rex Features
Image: Rami Malek as Safin in No Time To Die, complete with scars. Pic: Universal
And while visibly different characters aren’t common on screen, a woman with a physical difference in film or TV is even rarer.
Author and entertainment journalist Kristen Lopez says it’s because women’s value on screen is so tied up with their sexuality.
The author of Popcorn Disabilities: The Highs and Lows of Disabled Representation in the Movies has even come up with a term to describe the industry’s attempt to keep their leading ladies “sexy and beautiful”.
“You often see what I call ‘pretty disabilities’. It’s a disability that is not going to affect the physical perfection of the actress. And it will also allow for an A-list, usually non-disabled actress, to continue to play the character.”
Lopez says for that reason, films are more comfortable with portraying blind or visually impaired women, deaf women, or non-verbal women, because their disability “doesn’t mar the face”.
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Speaking from her own experience of growing up with brittle bone disease, she says: “I worry about the next generation of disabled girls – what are they seeing? Do they feel represented?
“How do you navigate adolescence if you don’t see anybody that looks like you doing the things that every other young person is doing?”
Romeo Olukotun was just one year old when an accident left him with second and third-degree burns on his torso, chest and neck.
With his accident not spoken about at home, he admits, “I just kind of had to deal with that on my own”.
He did find some flashes of inspiration, including from singer Seal.
Image: Romeo was just one when an accident left him with burns on his chest, neck and stomach
“I loved how even though he had a visible difference and scarring on his face, he wasn’t looked down because of that. He was seen for his talent.”
With his confidence taking a hit due to his scars while at secondary school and university, he rebuilt his self-esteem as an adult through cheerleading.
Later spotted at a music video shoot he’d gone along to with a friend, he’s now an actor and model. But his visible differences have, at times, affected his casting.
Image: Pic: Changing Faces
Romeo told Sky News: “Because my scar on my neck looks like I’ve been stabbed, I would often be asked to ‘Try this [performance] like a thug or someone who’s on the streets’. And I didn’t like being labelled as that. I’m someone who is much more than my scars.”
He’s now a man on a mission: “I want to be someone who shows other people with a visible difference that they can be anything. They can play the romantic lead, they can play a villain if they want to. They can be a hero, not just be labelled as someone sinister and evil, Machiavellian.”
Image: Pic: Changing Faces
While the film and TV industries might be slow to change, LAMDA vice principal Dr Philippa Strandberg-Long is hopeful for the future.
“We have to make our students aware of the industry that they are going into and not, I guess, create a utopia where they’re not aware of the industry they’re going into. However, we can change it from how we educate our students that come out.
“Things won’t change overnight, but it will change over time. So, we have to put in the work at the grassroots, which is here.”
Changing Faces is the UK’s leading charity for anyone with a visible difference. They have a confidential support and information line for anyone dealing with the impact of visible difference.