What may have seemed like a relatively low-stakes cash grab to a celebrity like Shaquille O’Neal or Tom Brady has turned out to be more trouble than it was worth—$5 billion more to be specific.
Celebrities notoriously endorse all kinds of things—and depending on who, and what their financial situation is, some are more discerning than others. Usually, these celebrities, public figures, and all-around famous people have teams that advise them against running into the legal liability of promoting something shady. But as multibillion-dollar venture capital firms missed the red flags flying around FTX, it seems that lots of celebrities did too. And now, according to lawyer Adam Moskowitz, they could be on the hook.
