On Friday, Bloomberg’s Jef Feeley revealed that YouTube personalities Tom Nash and Kevin Paffrath, along with NFL star Trevor Lawrence, have settled allegations of misleading investors through their endorsement of the now-bankrupt crypto exchange, FTX. Lawrence, the quarterback for the Jaguars, joined FTX as a partner in April 2021.

By May 2021, Lawrence announced intentions to transform his entire signing bonus into cryptocurrency. That year, his bonus was a staggering $24 million. Lawrence expressed his excitement about collaborating with Blockfolio, an FTX subsidiary. FTX had previously acquired Blockfolio, a leading portfolio tracking app, in 2020 for a cool $150 million.

Discussing the partnership, Lawrence stated:

When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust.

The renowned NFL quarterback is just one of many celebrities facing accusations of misleading investors through their FTX endorsements. Notably, Lawrence was part of a significant group of NFL players who embraced cryptocurrency in 2021, right before the crypto market soared to nearly $3 trillion in November.

The settlement terms remain undisclosed by Lawrence and the Youtube duo. The attorneys spearheading the $1 billion lawsuit against FTX’s celebrity promoters informed Feeley that they’re currently in “ongoing confidential, settlement discussions” with other parties. They anticipate the “likelihood that other FTX settlements will be reached.”

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