Reports indicate that the former CEO of bankrupt Crypto exchange FTX, Sam Bankman-Fried (hereinafter referred to as SBF), paid Golden State Warriors star Stephen Curry a huge sum of money to promote the failed company. company of.
Best-selling American author Michael Lewis said in an interview with "60 Minutes" that NBA All-Star Stephen Curry was paid $35 million to promote the exchange, working 20 times a year hours for a period of 3 years.
In the interview, he was promoting his new book Going Infinite, which is about FTX founder SBF, and Lewis said he had the privilege of meeting the former CEO more than 100 times.
During his meeting with SBF, he saw some internal FTX documents that showed how much celebrities had made from working with the Crypto company, which is how he learned about Curry’s deal with the exchange.
Lewis said, "He paid American football player Tom Brady $55 million to work 20 hours a year for three years. He paid Curry $35 million for the same three years."
Lewis also claimed that the exchange paid tens of millions of dollars to several other celebrities to promote FTX, including in a Super Bowl ad.
Stephen Curry became a global ambassador for FTX in 2021 and holds a stake in the company, which welcomed the NBA All-Star in a tweet.
The article reads, “Welcome NBA superstar Stephen Curry to the FTX team! We are pleased to announce that he has become an FTX global ambassador and shareholder. However, it is best for @StephenCurry30 to announce it in person.”
Additionally, an ad featuring the NBA All-Star, voiced by NBA legend Shaquille O’Neal, was produced. The ad centers on the idea that although Curry is new to the Crypto space, FTX’s ease of use will help him succeed in the industry.
SBF currently faces multiple federal charges, including wire fraud, money laundering, and securities fraud. His trial begins on October 3, 2023, the same day Lewis's new book is released, and Lewis's new book on SBF may serve as a kind of letter to the jury.
SBF is currently standing trial in Manhattan, New York, which is now in its fourth day and is expected to last six weeks.
U.S. District Judge Lewis Kaplan addressed SBF directly before the jury arrived in the courtroom. Kaplan told SBF he had the right to testify, but it was up to him, not his attorneys, to decide whether to do so.
On the 3rd and 4th days of the trial, FTX co-founder Gary Wang appeared as a witness to testify against SBF. In addition, Caroline Ellison, former CEO of Alameda Research and SBF’s ex-girlfriend, is also expected to testify against SBF at some point.
Gary Wang and Caroline Ellison have pleaded guilty to multiple charges since December and have been cooperating with the U.S. Attorney's Office in Manhattan for months.