From Super Bowl to Bankruptcy: How larry david's FTX Ad Became a Cautionary Tale

In one of cryptocurrency’s most ironic moments, a 2022 Super Bowl commercial featuring celebrated comedian larry david predicted what would actually happen to FTX—the exchange backing the ad. Playing skeptical characters dismissive of various innovations, larry david’s final skepticism targeted the very platform promoting the advertisement, responding to FTX’s pitch with his signature “Eh, I don’t think so.” Within months, his on-screen doubt proved prescient as the exchange collapsed spectacularly.

The Commercial That Predicted Disaster

The Super Bowl spot showcased larry david dismissing historical innovations—the wheel, the fork, the toilet, coffee—before turning his comedic disdain toward Bankman-Fried’s cryptocurrency exchange. When told “It’s FTX. It’s a safe and easy way to get into crypto,” larry david’s character responded exactly as the public would come to feel: with suspicion. The text overlay declared “DON’T BE LIKE LARRY,” a tagline intended to mock the comedian’s supposed inability to recognize opportunity.

The ad’s clever irony became impossible to ignore after November 2022, when FTX imploded. What had been presented as foolishness—larry david’s skepticism—turned out to be wisdom. Bankman-Fried’s assurances proved hollow. In November 2023, the crypto entrepreneur was convicted of stealing billions of dollars from customers through what prosecutors described as an elaborate fraud scheme.

A Comedian’s Reflection on the Decision

When discussing his participation in the campaign, larry david demonstrated characteristic self-awareness about what critics called a misjudgment. “I asked people, friends of mine who were well-versed in this stuff, ‘Should I do this ad?’” he recounted to the Associated Press. “They said, ‘Yeah, this is totally on the up and up.’ So, like an idiot, I did it.”

The timeline of FTX’s unraveling was swift and devastating. In November 2022, when the exchange began its final collapse, customers found themselves unable to withdraw funds. Nine days after a pivotal CoinDesk reporting that exposed financial irregularities, FTX’s bankruptcy filing froze customer assets entirely. larry david lost considerably through the debacle—he revealed that part of his compensation for the ad had been paid in cryptocurrency that evaporated with the exchange.

When Skepticism Was Vindicated: A Path to Recovery

While the collapse devastated users and investors alike, recent developments have offered a glimmer of redemption. The bankruptcy estate overseeing FTX’s liquidation announced in January 2024 that it expects to fully repay customers, though the timeline and percentage of recovery remain subjects of ongoing proceedings. This recovery effort represents one of the more successful bankruptcy resolutions in cryptocurrency history, though it offered little comfort to those who lost money when the platform failed.

The FTX saga fundamentally altered how the industry approaches celebrity endorsements and platform claims of safety. larry david’s instinctive skepticism—mocked in the advertisement’s punchline—became vindicated. The incident serves as a sobering reminder that when prominent figures lend their credibility to emerging financial platforms, due diligence matters far more than assurance from well-meaning advisors. For larry david and countless others, the lesson arrived at considerable personal cost.