Regretting a Crypto Ad: Larry David Reflects on His Commercial for FTX

Larry David, the comedic genius behind HBO's "Curb Your Enthusiasm," recently expressed his regret over his involvement in a 2022 commercial for FTX, a now-defunct cryptocurrency exchange. In the commercial, David arrogantly boasted about his uncanny ability to be "never wrong" when it comes to significant inventions throughout history.

During a red carpet event celebrating the 12th season of "Curb Your Enthusiasm," David candidly admitted that he made the decision to participate in the crypto ad based on the advice of his friends. However, he now acknowledges that it was truly a foolish move on his part.

The commercial was produced by FTX, a company founded by the once-prominent crypto leader Sam Bankman-Fried. Unfortunately, Bankman-Fried's reputation took a dark turn, leading to a conviction for fraud in 2023. Notably, the FTX ad aired during the highly-watched 2022 Super Bowl, alongside crypto ads from rivals Crypto.com and Coinbase.

David further expressed his regret by mentioning the class-action lawsuit that he and other FTX promoters faced following the exchange's bankruptcy.

Crypto Industry's Golden Era: A Flashback to October 2022

To understand the magnitude of David's regret, it is important to look back at the thriving crypto industry during the time when the FTX ad aired. CEO Bankman-Fried basked in billionaire status, while the Super Bowl became a hotbed for crypto ads. Celebrities like Matt Damon and Steph Curry eagerly associated themselves with cryptocurrencies. Additionally, companies like Coinbase and Robinhood experienced exponential growth in market capitalization.

The total market cap of all cryptocurrencies reached nearly $3 trillion at its peak in 2021. However, currently, it stands at approximately $1.6 trillion, indicating a significant decline.

The Future of Bitcoin and the Impact of New ETFs

As Bitcoin experiences a 20% decrease in the wake of emerging ETFs, many wonder if the cryptocurrency will still shatter records this year. Stay tuned to find out more.