Popular Finance YouTubers Who Hyped Crypto Company FTX Are Being Sued

Zakhi Mgutshini
Mar 20, 2023
Updated • Mar 20, 2023

There's no better time to be alive than now. I don't know about you but I love to watch the famous Judge Judy as she deals with different lawsuits. Since then we've seen the rise of several court shows from Divorce Court to Paternity Court. These shows have made me realise that suing someone is a common thing and it's happening for just about anything.

Popular Finance YouTubers Who Hyped Crypto Company FTX Are Being Sued

Cryptocurrency is a digital currency that has totally changed the perception we have on performing transactions. Without a doubt, any new forms of technology and advancements commonly come with scams. Cryptocurrency has also been a victim to such.

Recently some popular finance YouTubers promoted a crypto-currency company FTX  and now face a lawsuit of about $1 billion. Those being sued include Meet Kevin whose channel operator is Kevin Paffrath and former real estate agent Graham Stephan.

Kevin, 31 has a following of 1.4 million and also releases videos on travel credit cards,  saving tips and how to manage your real estate property. His recent video released on Thursday called “Being Sued” was a little change from the genre we’re used to.

Kevin's response was to the $1 billion proposed action lawsuits against him and Graham Stephan as well as Ben Anderson an Australian influencer owner of the BitBoy crypto channel.  For the role, they play in promoting the collapsed crypto company FTX. 

In November FTX experienced a high number of withdrawals as investors rushed to get their money. The company declared bankruptcy and its founder stepped down as CEO. Later on, sources revealed that the crypto exchange had been transferring customer funds into Alameda Research owned by Bankman Fried.

Bankman Fried was arrested in the Bahamas (which is also FTX’s base) on the 12th of December 2022. He pleaded not guilty to eight counts of defrauding customers,  violating campaign finance laws, and money laundering. 

Kevin argues that even though he promoted the company he didn't have any responsibility or gain from anyone's loss. In the comment section of his video viewers had split opinions. some commenters praised him for his transparency while others just didn't buy it. Others mentioned that content creators should be careful with whom they endorse especially if these endorsements are paid for

The lawsuits were filed in the Southern District of Florida alleging that the influencer management firm Creators Agency and a group of YouTubers promoted and assisted in the sale of the unregistered securities. 

An Oklahoma resident Edwin Garrison is the lead plaintiff. in the case against the YouTubers, Garrison was joined by FTX investors from all over the world including the UK and Australia. Adam Moskowitz the plaintiff’s attorney told BuzzFeed News that influencers are paid similarly to other promoters and they must be held accountable. 

This comes as no surprise as most of these lawsuits surface when something goes wrong with cryptocurrency trading platforms. A solution would be to deal with the problem before  these platforms declare bankruptcy and disappear. 


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  1. bruh said on August 18, 2023 at 1:25 pm

    Uhh, this has already been possible – I am not sure how but remember my brother telling me about it. I’m not a whatsapp user so not sure of the specifics, but something about sending the image as a file and somehow bypassing the default compression settings that are applied to inbound photos.

    He has also used this to share movies to whatsapp groups, and files 1Gb+.

    Like I said, I never used whatsapp, but I know 100% this isn’t a “brand new feature”, my brother literally showed me him doing it, like… 5 months ago?

  2. 💥 said on August 18, 2023 at 3:55 pm

    Martin, what happened to those: 12 Comments (https://www.ghacks.net/chatgpt-gets-schooled-by-princeton-university/#comments). Is there a specific justifiable reason why they were deleted?

    Hmm, it looks like the gHacks website database is faulty, and not populating threads with their relevant cosponsoring posts.

  3. 45 RPM said on August 19, 2023 at 6:29 pm

    The page on ghacks this is on represents the best of why it has become so worthless, fill of click-bait junk that it’s about to be deleted from my ‘daily reads’.

    It’s really like “Press Release as re-written by some d*ck for clicks…poorly.” And the subjects are laughable. Can’t wait for “How to search for files on Windows”.

    1. owl said on August 20, 2023 at 12:51 am

      > The page on ghacks this is on represents the best of why it has become so worthless, fill of click-bait junk…

      Sadly, I have to agree.

      Only Martin and Ashwin are worth subscribing to.
      Especially Emre Çitak and Shaun are the worst ones.

      If ghacks.net intended “Clickbait”, it would mark the end of Ghacks Technology News.
      Ghacks doesn’t need crappy clickbaits. Clearly separate articles from newer authors (perhaps AIs and external sales person or external advertising man) as just “Advertisements”!

      We, the subscribers of Ghacks, urge Martin to make a decision.

  4. chessandonions said on August 20, 2023 at 12:40 am

    because nevermore wants to “monetize” on every aspect of human life…

  5. Frank Rizzo said on August 20, 2023 at 11:52 pm

    “Threads” is like the Walmart of Social Media.

  6. Ashray said on August 21, 2023 at 4:06 pm

    How hard can it be to clone a twitter version of that as well? They’re slow.

  7. Paul(us) said on August 21, 2023 at 5:16 pm

    Yes, why not mention how large the HD files can be?
    Why, not mention what version of WhatsApp is needed?
    These omissions make the article feel so bare. If not complete.

    1. Paul(us) said on August 21, 2023 at 5:18 pm

      Sorry posted on the wrong page.

  8. Marc said on August 21, 2023 at 6:00 pm

    such a long article for such a simple matter. Worthless article ! waste of time

  9. plusminus_ said on August 21, 2023 at 7:54 pm

    I already do this by attaching them via the ‘Document’ option.

  10. John G. said on August 21, 2023 at 11:43 pm

    I don’t know what’s going on here at Ghacks but it’s obvious that something is broken, comments are being mixed whatever the article, I am unable to find some of my later posts neither. :S

  11. Tom Hawack said on August 23, 2023 at 2:28 pm

    Quoting the article,
    “As users gain popularity, the value of their tokens may increase, allowing investors to reap rewards.”

    Besides, beyond the thrill and privacy risks or not, the point is to know how you gain popularity, be it on social sites as everywhere in life. Is it by being authentic, by remaining faithful to ourselves or is it to have this particular skill which is to understand what a majority likes, just like politicians, those who’d deny to the maximum extent compatible with their ideological partnership, in order to grab as many of the voters they can?

    I see the very concept of this Friend.tech as unhealthy, propagating what is already an increasing flaw : the quest for fame. I won’t be the only one to count himself out, definitely.

    1. Tom Hawack said on August 23, 2023 at 2:34 pm

      @John G. is right : my comment was posted on [https://www.ghacks.net/2023/08/23/what-is-friend-tech/] and it appears there but as well here at [https://www.ghacks.net/2023/07/08/how-to-follow-everyone-on-threads/]

      This has been lasting for several days. Fix it or at least provide some explanations if you don’t mind.

  12. Tom said on August 24, 2023 at 11:53 am

    > Google Chrome is following in Safari’s footsteps by introducing a new feature that allows users to move the Chrome address bar to the bottom of the screen, enhancing user accessibility and interaction.

    Firefox did this long before Safari.

  13. Mavoy said on September 16, 2023 at 2:17 pm

    Basically they’ll do anything except fair royalties.

  14. TelV said on October 4, 2023 at 2:59 pm

    The only “Hot” aspect about this discussion is that all the users are psychic and have discovered a way to comment on a particular topic a couple of weeks before it actually appears i.e. the article is dated 3 October while the comments date from August 18.

    Is this an example of how the super intelligent AI is going about its business?

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