Financial schemes only work if they can establish confidence. FTX paid many prominent YouTube channels to create an illusion of safety and spread the fear of missing out, Chris Norlund, a media commentator who had tracked FTX ads, writes. Opinion.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Did you know many of the biggest financial and money YouTubers who promoted FTX worked with the same talent agency?
Celebrities including centi-millionaire financier Kevin O'Leary, football star Tom Brady and basketball stars Steph Curry and Shaquille O'Neal all attached their images to FTX. Larry David played a crypto-skeptical curmudgeon in a much applauded FTX Super Bowl ad last year. Many of these well-known names are now facing a class-action lawsuit.
However, there is another group of people who need pointing out: social media influencers. In an age of bifurcated attention, where people are more likely to be watching YouTube than network television, micro-celebrities can have an outsized influence on their audience. That’s part of the reason FTX sponsored so many so-called creators, especially on YouTube.
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