This is the greatest youtuber crypto moment of All Time Merch moistglobal.com/ I stream every day / moistcr1tikal Coffee's video • RU-vidrs Get Sued For...
I like to believe Shaq has a whole room in his house with nothing but a really big pile of coats on the floor and that he hides underneath whenever anyone comes around trying to serve him legal documents.
I like to picture a Scooby Doo style chase scene with the people chasing Shaq trying to serve him legal papers with them just running through random doors and coming out others with no reasonable pathways in Shaq's big ass mansion.
As the LegalEagle already said, they are gonna have a hard time trying to prove these youtubers had any reason to believe FTX was a bad investment and knowingly defrauded investors.
I think it will be impossible, and the idea that youtubers or anyone else paid for advertisements/promotions should have had insights into FTX's fraudulent activities is dumb to begin with.
@@Jonathan-Pilkington Yeah, a lot of takes on some other vids saying the tubers didn't do their due diligence, as did Coffee but how are these guys supposed to know more about FTX and Alameda than the multiple government agencies that only found out after the collapse? Unless I'm mistaken and it was really obvious but no major news outlets were raising red flags?
@@Rosskles Don't feed the bots, let them starve and then eventually they should leave. They garner attention, and replying apparently gives them a bigger ego to stroke.
As sad as that is, it's true. The obvious rate drops when cryptos are opened to, or heavily bought by, the public isn't considered proof due to it being "circumstantial"
@@dr.hannibal8338 That's what they are called! Have you seen those shorts where it would be "Watch for full video" and it'll show a lady almost exposing herself?
As a person who had to learn the hard way from being scammed. I have no pity for people that were knowingly part of this mess. Hopefully they go after the big names and not the little guys.
If any of the endorsers knew FTX was a scam (of which I’m sure at least a few were) and still took the money and sponsored it then yes I hope they do. Otherwise I would say the onus is split between the viewer and the endorser, on the endorser for not doing more research into it particularly if they position themselves as an expert, and on the viewer for the same reason. As a viewer/human you should be healthily skeptical of everything, particularly if someone else is giving you advice and should do your own research even if that person may have a good rep in whatever it is (like Warren Buffet for long term stocks).
@@strandkorbst9643 I'm pretty sure that dude is outdated, he needs updating every hour for a new patch - I don't think he even knows what's going on everyday.
They don't get sued because freedom of speech exists I can say anything I want about anybody I want and you can't do anything about, yes there are some stipulations like you can't blatantly call someone a rapist publicly without proof that's called defamation, good example of this Brett farve sueing Pat McAfee for defamation Because he talked about Brett being sued for welfare fraud. However pat used the word allegedly multiple times meaning Brett and his lawyers are retarded as hell and will not win this case lol remember if it's true then say it
normies clap over anything. charlie just speaks middle of the road opinions and everyone claps like seals. like I get it, he's not an asshole but the dude is hardly a messiah. he hardly has any against the grain views and he says whatever the majority of people will like. he plays the game and stays within the lines like a good boy.
Honestly I think they deserve it. They like to be called experts and give out "financial advice", so they can handle being sued for advising people in investing into a scam. I hope they'll actually end up paying a good amount of money over this, even if it's just legal fees.
You see they don’t though. They usually say something or show something that says they aren’t professionals and contact a cpa which most people don’t 🤷🏽♂️
Even if the lawsuit goes nowhere, it’s hopefully going to show everyone much more clearly now that financial RU-vidrs aren’t all knowing and that the things they promote may be things they don’t believe in but just promote because they’re being paid to.
It must be stressful to find out a company or service you promote/ed turned out to be scummy. I've seen a few sources I very much enjoy and trust show support for products that turned out to be just that. But, I also do my own research, and I recommend everyone do that when considering investing in anything, no matter who promotes it.
One thing we should remember is that broadcasting companies have teams to handle laws and PR, RU-vid is now giving the average person the ability to broadcast but as evident by the lawsuits, RU-vidrs don't understand a lot of the laws around this stuff
I do think this all brings up a very important thing that RU-vidrs (in general) need to figure out. Which is how much do you need to know about your sponsor. We've seen over the past year or so, quite a few controversies over RU-vidrs promoting scams, like Established Titles etc.. Obviously Charlie considers this, as he usually only promotes his own ventures, something he knows very well about. I do think it's an important issue that does need to be addressed, especially as more RU-vidrs rely on sponsors.
Fr, no one had prior knowledge of their financials… no one would have had that info besides higher ups @ FTX & Alameda Research…FTX was assumed trustworthy because of their large client base as well as partnerships with MLB, Brady etc
It's always safe to be skeptical, as a viewer and as a content creator with a sponsorship. Do the research, and you can avoid losing money. I appreciate people like you and Coffeezilla putting information out there for the rest of us to be able to understand and learn from.
Exactly, which is why I don’t think the RU-vidrs who did sponsorships should feel personal guilt for those who lost all their money, they couldn’t have know what FTX looked like inside and beyond that I can not understand how ANYONE can put their entire life’s worth of money in something, it’s just so baffling to me.
Depends if there’s research out there in the first place. Problem with FTX is that it wasn’t exactly a known fact SBF was embezzling away everyone’s money until he went broke and had to file for bankruptcy, then it became an international story that was investigated. But if you’re a financial channel where your whole gimmick/niche is providing sound financial advice, then isn’t it fair to assume that said financial channel should’ve done their due diligence if they are going to promote/vet a service to invest one’s life’s savings or retirement portfolios with??? This is a really tough situation though because everyone and I mean EVERYONE was pushing crypto sponsors. Not just financial advice channels but you had a lot of podcast, news channels, random goofy comedy stuff, etc. And if you’re a regular viewer/subscriber and see someone you routinely watch (aka an influencer or role model) repeatedly saying invest in crypto today and use my promo code for a free $100 in crypto or one month free trading etc, well now you’ve been influenced to buy this service because the adviser (the RU-vid channel) has promoted it. It’s absolutely funny how one channel I watched at least once a week for several years promoted a crypto service, then FTX Scandal comes to light and suddenly all the crypto promotions are gone and he 180s saying don’t trust crypto cause it’s not a better currency 🤦🏻♂️ But the flip side is, yeah you don’t HAVE to buy something because a celeb or whatever says to. That’s be like suing Shaq because he used to have an endorsement with Oreos and so you bought Oreos all the time and now have diabetes. Is that a fair lawsuit? Probs not (although in America one thing will get thrown out while a different judge will take a very similar case and try it very seriously). Point is, whole situation is a Crapshoot 🤷🏻♂️
I suspect this is why dislikes were actually removed. so corporate propaganda can scam easier. around the time dislikes got removed people were getting more and more vocal about those types of vids
@@immapotato1 This is true. I noticed that the dislike button got removed the moment the White House channel started posting videos with Biden because... you guessed it - they got dislike bombed. And then not even a week later they started considering it. That and corporations, yeah, but we all know governments and corporations go hand in hand.
10:45 Yeah, that's what I was thinking is that the only way the lawsuit has much standing in court is if they could prove that the RU-vidrs had prior knowledge and coordination of the scam. But it may depend on the judge/jury. The one thing that is certain is the RU-vidrs are going to lose at least thousands of dollars each to legal fees if a court decides to take the case, regardless of outcome.
@@oskarekelund1476 yes but he was a financial advisor advertising ftx. He technically has plausible deniability because he can say it was just an advert but at the end of the day ftx only paid him specifically because he had an audience who listened to him on other financial matters. He wasn’t just another famous person, he was targeted because of his credibility for general financial advice.
@@dravidianking1298 in his videos advertising FTX he did say that crypto is a risky investment and that IF you are going to invest then you should only put a small amount of you portfolio in to FTX. He didn’t tell them go and invest right now this is 100% safe, what more can he do then telling them that crypto is risky and that they only should put in money that they can afford to loose? If an adult invest money because they saw an ad and the investment fails then he is responsible for his investment, not the one advertising. It would be different if he paid a financial expert to manage his money and invest it, then the investor would have to take some accountability, but to blame a youtuber that made ads is childish in my eyes.
@@dravidianking1298 Being a financial advisor is irrelevant, theres no legal basis to sue 3rd party paid promoters for a paid promotion because the CEO of the promoted business turned out to be a fraud, would you support suing tech youtubers for promoting NORD VPN if it turns out to be stealing user info? of course not, because its not their fault or responsibility.
@@oskarekelund1476It actually wouldn't be different for a financial advisor unless you can prove they misled you, lied, or invested your money with too much risk. Proving that last point is difficult because all investment is speculation. If your advisor dumped all of your money into FTX you'd probably have a lawsuit, but if they put say 10% in you'd really have no recourse for getting that money back.
It's sadly simple: You can't sue a TV channel whose Ad got you to buy to buy crap. Or an investment firm and their employee's, if they give you a shit advice. The RU-vidrs fall into the same category. They were promoting something but the final decision was still on the individuals, as was doing their due diligence and research. Especially when it comes to investing in something you know NOTHING about. DON'T, simple as. If you know nothing of a market, don't invest volatile money, unless you're prepared for the possible losses. Finally, unless they can prove that their ties to FTX was more than just a business arrangement for promotions, they will loose the lawsuit.
I'm late to this, but there is a caveat to that: Investment firms, brokerages, and brokers are *licensed*. And giving financial advice *without* a license is, in the US at least, generally quite illegal. If you encourage investing, or call yourself an 'investment advisor' or similar, and you're not licensed? In the US that's a crime (particularly *if you're being compensated* somehow, either by your clients or by the organization you're talking up). One with a maximum penalty of one-hundred fifty thousand dollars and up to one-hundred fifty years in prison.
@@patrickharrington9394 Sure but in most cases, they don't really sell. They just let their followers sheep mentality kick in. They don't even need to flaunt it, upsell it, just the "They named it" is enough to see a LOT of people just buy and get into they know nothing about.
Allowing a case like this to be heard will set a huge precedent. Imagine every paid advertiser being held responsible for the product they promote(d) ?
If a scammer or a company are sued or fined for less than what they made then that's just a way for them to get away with most of the money. They should always be fined or sued for more that what they made.
10:30 literally their response "I feel bad they're irresponsible" boils down to "don't trust me or my advice". He gave the worst possible response, doubling down on the idea that their word isn't to be trusted and can be easily paid for.
I mean to be fair nobody forced them to do this. I work very hard for my money and I will never invest money in what a youtuber is selling. Just gotta have some common sense.
The fact that these youtubers didn't ask how FTX was able to offer such high returns just for keeping your money there shows how little they care about their audience.
There's just such a huge issue right now where anyone on platforms like this can say or do anything with absolutely zero consequences, with exceptions for a limited number specific things which would get the platform itself in legal trouble (or trouble with advertisers, or when an incident gains a massive amount of negative publicity.
I believe that Bin was possessed by Deadman to warn people about FTX because there’s no way he’ll warn people AGAINST crypto. It’s like Captain America saying Hydra isn’t so bad.
It’s wild to me. I don’t even put full faith on RU-vidrs and their video game reviews. But there’s people ready to sink their lives on their words lol.
First Charlie completely obliterates what remaining online career Sneako had in a matter of four tweets, and then next thing he's covering a story about RU-vidrs being sued for a billion dollars as if it were any other typical Friday night. Absolute Legend.
ok what about the people who didn't know anything shady was going on until everything came to light, and only promoted it because on the surface it seemed legit
That's why influencers and content creators should always be honest and disclose when they're being paid to promote products and services. That way they can't be held accountable for things like this.
yeah, I was scratching my head like, how tf are they gonna prove that the youtubers knew it was a scam? so many youtubers get sponsored by scams and claim not to know
"A broken clock is right twice a day" I couldn't have said it better myself. It's ironic that they only correctly predicted the movement of the crypto market as it was beginning to crash.
there should be a new Shaq Fu game where he's venting and going through other secret passages in his own house to avoid the lawsuit messenger like they were a xenomorph
In fact, if a quick reading of the IAA (the Investment Advisers Act of 1940) is anything to go by, it doesn't get rid of *any* responsibility (in the US, anyway). Zero. None. If any of the people who were talking up FTX, Celsius, or any other major name in Crypto lost investors money, the words 'this is not financial advise' are about as legally relevant as a roll of toilet paper. And the ones who were *compensated* for doing so are as protected by those words as the cardboard tube of that same roll if it were at the bottom of the ocean. Unless they were licensed, of course. But licensed investment advisers have no reason to put those words on their advise, so safe to say they probably weren't.
That is a shitty analogy. It is more like suing mcdonald's for serving you coffee at an extremely high temperature and leading to you having your labia fucking fused to your thighs.
Charlie you are the best youtuber in my opinion you don’t just bring the content but you bring your message of what u have to say on certain topics. Thank you 🙏🏾. You are an inspiration to me and others.
@P bro do you not get bored doing this. Also why keep trying when it clearly doesn't work, you get no likes or views, and you're among literally thousands of other people trying. I'm genuinely curious here, why do you do it and what do you think you'll achieve?
Should Charlie be sued because of RobinHood? That's what this lawsuit is. No youtuber could have POSSIBLY known what Bankrupt-Fraud was doing with Alameda behind the scenes. The lawsuit reeks of bitterness and shame, and they need to accept it's their own personal responsibility with what they invest their money into.
Yeah, this lawsuit may not even go anywhere passed the initial phase but damn it all, if it does make it to trial, let it be the wildest fucking court-case of all time.
