Trevor Lawrence got into some serious trouble for shilling FTX, a crypto company that went bust. The lawsuit says that Lawrence and other celebs, like Tom Brady, allegedly duped the public about FTX, which tanked in 2022. Apparently, FTX crashed and burned because its crypto coin, FTT, ran out of cash and went broke.

The big boss of FTX, Sam Bankman-Fried, is facing a bunch of fraud charges and could end up in the slammer for a century. Right before Trevor Lawrence joined the Jags as the top dog in the 2021 NFL draft, he inked a deal with FTX (which was called Blockfolio back then).

Jaguars’ Trevor Lawrence settles FTX suit

Many thought that Lawrence got his whole $24.1 million bonus from the Jags in crypto. However, a bankruptcy filing showed that Lawrence got a $500,000 check from FTX in September 2022. Lawrence, who is 23 years old, was part of a squad of celebs, like Tom Brady, Gisele Bundchen, Steph Curry, Shaq, and Larry David, who allegedly hyped up FTX and are now getting sued. The people say they lied about FTX, the crypto exchange that went kaput in 2022.

The latest scoop is that Trevor Lawrence has settled the lawsuit over his FTX promo, but the settlement terms are hush-hush. Attorneys spearheading the case informed Bloomberg, that they are “engaged in ongoing confidential, settlement discussions.”

On the flip side, Sam Bankman-Fried, the founder of FTX, is reportedly set to face the music next month in Manhattan on criminal charges and has said he’s innocent.

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Tom Brady’s hefty loss in the Cryptocurrency world

According to an ESPN report from July 2023, Tom Brady took a big hit because of the collapse of the crypto company FTX. Forbes reports that the lawsuit claims that these celebs, by giving their stamp of approval to the failed crypto exchange, are on the hook for causing billions of bucks in damages. The NFL star got $30 million in worthless stock for plugging the company in TV ads and at events, and his ex-wife, Gisele Bundchen, got $18 million in stock.

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Before FTX went down the drain, it was worth $32 billion, including the $48 million in shares owned by Brady and Bundchen, according to the Times. But now, it’s worth nada. The case is still up in the air, and no one knows when it will be over.

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