Larry David admits losing ‘a lot’ in crypto, calls himself ‘idiot’ after FTX collapse

Larry David, the American comedian, disclosed significant losses as part of his FTX Super Bowl commercial salary was in crypto.

Portrayed as a crypto skeptic in the Super Bowl advertisement, Larry David now calls himself “an idiot” for dealing with the now-defunct FTX, whose founder, Sam Bankman-Fried, is facing serious legal troubles.

In an interview with The Associated Press, David revealed that he had lost “a lot of money” after things went south for FTX and its disgraced founder Sam Bankman-Fried, who is now facing up to 100 years in prison for multiple charges. David also added he was seeking advice from his friends who were knowledgeable about crypto and who assured him it was legitimate.

“I asked people, friends of mine, who were well-versed in this stuff, ‘Should I do this? Is there anything wrong with me doing this? Is this okay? They said, yeah, this is totally on the up and up. It’s fine, do it. So, like an idiot, I did it.”

Larry David

The American comedian featured in FTX’s 2022 Super Bowl commercial directed by Jeff Schaffer. The ad showcased David’s character criticizing historical inventions and ended with him discovering FTX as a “safe and easy way to get into crypto.”

Despite this, David remained skeptical in the ad, saying, “Eh, I don’t think so. And I’m never wrong about this stuff — never.”

Post-FTX’s bankruptcy, David and other celebrities promoting the crypto exchange faced legal action for being labeled as a “brand ambassador” for FTX.

Crypto exchange FTX collapsed in November 2022 following revelations of an $8 billion shortfall in the exchange’s accounts, culminating in its formal declaration of bankruptcy.