Larry David's Remorse Over FTX Super Bowl Ad
At the premiere of "Curb Your Enthusiasm's" final season, Larry David expressed remorse for his participation in a Super Bowl commercial for FTX, reflecting on the decision as misguided after the cryptocurrency exchange's bankruptcy.
The Creator of "Seinfeld" and "Curb Your Enthusiasm" Expresses Regret
Larry David, the creator behind "Seinfeld" and "Curb Your Enthusiasm," has recently expressed regret over his involvement in a Super Bowl ad for the now-bankrupt cryptocurrency exchange FTX. Speaking at the premiere of the final season of "Curb Your Enthusiasm," David admitted that his decision to endorse FTX was misguided.
Doubts and Misgivings
"I asked people—friends of mine who were well versed in this stuff—'Should I do this ad? Is there anything wrong with this, with me doing this? Is this okay?'" David revealed. "And they said, 'Yeah, this is totally on the up and up… Do it.' So like an idiot, I did it."
The Controversial Super Bowl Commercial
In the 2022 Super Bowl commercial, David humorously rejected groundbreaking inventions like the wheel and the lightbulb, ending with a skeptical view of FTX. This ironic approach became controversial when FTX filed for bankruptcy in November 2022 after significant discrepancies in its accounting came to light.
Celebrity Endorsers Caught in a Lawsuit
Alongside other celebrity endorsers, including Tom Brady and Shaquille O'Neal, David found himself embroiled in a class action lawsuit. The suit accuses them of complicity in a "fraudulent scheme" with FTX founder Sam Bankman-Fried, aimed at deceiving unsophisticated investors.
"I'm in a class action lawsuit, which I would love to be part of," David told the Associated Press. "Because part of my salary was in crypto—so I lost a lot of money." It's reported in a biography of Bankman-Fried by Michael Lewis that David was paid $10 million for the ad, but the payment method remains unconfirmed.
Legal Proceedings and Convictions
Legal proceedings against FTX continue, recently the Third Circuit Court of Appeals in Philadelphia reversed a prior decision, now requiring FTX to be investigated by an independent examiner. As for FTX's founder and former CEO, Bankman-Fried has been convicted of multiple federal fraud and conspiracy charges, with sentencing scheduled for March.
Opinions and Thoughts
Do you think Larry David is culpable of any wrongdoing for partaking in the FTX Super Bowl ad? Share your thoughts and opinions about this subject in the comments section below.
Frequently Asked Questions
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How is gold taxed within an IRA?
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Can I hold a gold ETF in a Roth IRA?
While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (IRA).
Traditional IRAs allow contributions from both the employer and employee. A Employee Stock Ownership Plan, or ESOP, is another way to invest publicly traded companies.
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How does gold perform as an investment?
Gold's price fluctuates depending on the supply and demand. Interest rates can also affect the gold price.
Due to the limited supply of gold, prices for gold are highly volatile. In addition, there is a risk associated with owning physical gold because you have to store it somewhere.
How much should precious metals be included in your portfolio?
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You must therefore diversify your investments in precious metals to reap the maximum profits. Additionally, since the prices of precious metals tend to rise and fall together, it's best to invest in several different types of precious metals rather than just focusing on one type.
Should You Buy or Sell Gold?
Gold was a safe investment option for those who were in financial turmoil. Many people today are moving away from stocks and bonds to look at precious metals, such as gold, as a way to diversify their investments.
While gold prices have been rising in recent years they are still low relative to other commodities, such as silver and oil.
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They also mention that gold is becoming more popular due to its perceived worth and potential return.
These are some important things to remember if your goal is to invest in gold.
- The first thing to do is assess whether you actually need the money you're putting aside for retirement. It is possible to save enough money to retire without investing in gold. However, you can still save for retirement without putting your savings into gold.
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- Finally, remember that gold doesn't offer the same level of safety as a bank account. Losing your gold coins could result in you never being able to retrieve them.
You should do your research before buying gold. And if you already own gold, ensure you're doing everything possible to protect it.
Statistics
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
External Links
cftc.gov
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement plans
irs.gov
How To
Tips for Investing in Gold
Investing in Gold is one of the most popular investment strategies worldwide. There are many advantages to investing in Gold. There are many ways you can invest in gold. Some people purchase physical gold coins. Others prefer to invest their money in gold ETFs.
Before you buy any type of gold, there are some things that you should think about.
- First, verify that your country permits gold ownership. If your country allows you to own gold, then you are allowed to proceed. You might also consider buying gold in foreign countries.
- Secondly, you should know what kind of gold coin you want. You can choose between yellow gold and white gold as well as rose gold.
- Thirdly, you should take into consideration the price of gold. It is best to begin small and work your ways up. When purchasing gold, diversify your portfolio. Diversifying assets should include stocks, bonds real estate mutual funds and commodities.
- Don't forget to keep in mind that gold prices often change. It is important to stay up-to-date with the latest trends.
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By: David Sencil
Title: Larry David Regrets Super Bowl Ad for Bankrupt Cryptocurrency Exchange FTX
Sourced From: news.bitcoin.com/larry-david-reflects-on-super-bowl-ftx-ad-like-an-idiot-i-did-it/
Published Date: Sat, 03 Feb 2024 09:30:12 +0000
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