Joe Rogan has just revealed a lesson that he learned from Tom Brady and Larry David. So, what is it? Well, the JRE host revealed his mindset of not endorsing anything that he does not understand. Speaking to Yannis Pappas and Chris DiStefano on JRE #2249, the UFC commentator discussed cryptocurrencies, NFTs, and the risks of it. While DiStefano accepted that it can be risky for the investor, he didn’t understand why NFL quarterback Tom Brady and comedian Larry David were dragged to court for just promoting a mere product in the $3.69 trillion market.

This is when Joe Rogan revealed that he had been offered several opportunities to endorse cryptocurrencies. However, since he does not understand them, he won’t promote them either. He said, “I’ve had offers to promote things like that. I’m not interested. Like, uh-uh. I don’t even understand it. If I don’t understand it—like, you’re selling what? NFTs? What does that mean? ‘It’s a non-fungible token.’ We’re done. I don’t know what you’re saying. I’m not doing this. It’s like, too many bros out there doing this—the Lambo drivers. It’s like a culture.”

He further explained that the reason that Brady and David met with lawsuits was because they breached the trust of the audience. For the unaware, FTX investors filed a class-action lawsuit against the founder and former CEO of the bankrupt crypto exchange, Sam Bankman-Fried, as well as several celebrities who promoted the platform. The class-action lawsuit filed in Miami claimed that the NFL quarterback and comedian Larry David deceived customers and engaged in deceptive practices to sell digital currency accounts with FTX yield.

According to the complaint, the defendants made false statements and omissions designed to induce confidence and lead consumers to invest in what was ultimately a Ponzi scheme. However, Brady isn’t the only high-level athlete who found himself embroiled in a controversy related to the digital currency. Even the fight world has such examples, such as Khamzat Chimaev and the infamous SMASH coin. So, what exactly happened?

When Khamzat Chimaev’s SMASH coin landed him in trouble

Back in July, after having failed to put together a fight for nine months in a row, undefeated UFC superstar Khamzat Chimaev switched to cryptocurrency and promoted his own meme-coin. The Russian fighter asked fans which cryptocurrency he should invest in, inviting suggestions and panic from his followers. This is the same approach that most celebrities who are about to launch their own token have been following lately. And indeed, Chimaev was no exception, as he followed this same pattern.

The next day, he asked fans to purchase Chimaev’s themed meme-coin ‘SMASH,’ named for his famous mantra of “crush everyone.” Unfortunately, for early buyers, SMASH dropped to zero almost as quickly as ‘Borz’ has finished off most of his opponents. The coin went down 96% in just 24 hours. Familiar with these types of schemes, crypto veterans were quick to point to Chimaev in their responses for what appeared to be a classic crypto pump-and-dump scheme.

‘Borz,’ in his defense, claimed that he wasn’t completely aware of the concept of cryptocurrency. Instead, it was his manager who came to him with the offer to promote the meme coin. He said, “Well, my manager… you can say acted stupidly, and I also made a mistake in this crypto. I don’t understand [crypto] at all. I trust my manager.” He further revealed that he too did not get compensated for the promotion he did. But what do you think? Was Chimaev just a victim in the situation and should’ve been more vigilant like Joe Rogan claimed he is during the podcast? Let us know in the comments.