How Sam Bankman-Fried used celebrity endorsements: the disgraced crypto king expanded his now-defunct exchange FTX with his connections to Katy Perry, Gisele Bündchen, Bill Clinton and Larry David

Oct 25 , 2023

Sam Bankman-Fried paid celebrities for FTX endorsements. Photos: @katyperry/Instagram; @SBF_FTX/X

Before his fall from grace, Bankman-Fried had an estimated net worth of US$26.5 billion and paid celebs massive sums to endorse his now-defunct crypto exchange FTX, including Tom Brady and Larry David

Former Hollywood agent Michael Kives has been cited as the main figure who connected SBF with A-listers, from Katy Perry to Leonardo DiCaprio – even Taylor Swift signed a deal

Sam Bankman-Fried, or SBF, was widely considered to be a crypto god thanks to his FTX exchange and Alameda trading firm, which ranked him as one of the richest people in cryptocurrency.

But it all came crashing down in November 2022, when Bankman-Fried filed for bankruptcy. His wealth peaked at an estimated US$26.5 billion before his dramatic fall from grace.

During his ongoing court case, the relationships between the crypto king and other powerful personalities have been in the spotlight. SBF is currently facing charges relating to conspiracy and wire fraud over alleged misrepresentations regarding FTX to investors.

Here’s how SBF, 31, convinced celebrities and political powerhouses to back his business.

Michael Kives, the OG connection

Michael Kives used to be an agent in Hollywood. Photo: Getty Images

Former Hollywood agent Michael Kives has been identified as SBF’s original “in” among the rich and powerful. The New York Times detailed how Kives introduced Bankman-Fried to big names in Hollywood, including Katy Perry, Orlando Bloom, Kate Hudson, Bill Clinton, Tom Brady and Gisele Bündchen. In exchange, Bankman-Fried invested US$700 million into Kives’ venture-capital firm, according to court records. These connections clearly helped build the SBF empire, luring investors to part with their money.

Kate Hudson, Michael Kives and Jessica Alba. Photo: Getty Images

Court documents released in October during Bankman-Fried’s criminal trial showed how he attended a private dinner hosted by Kives in LA, in early 2022. Attendees included Perry, Jeff Bezos, Leonardo DiCaprio, and Kendall and Kris Jenner. In Bankman-Fried’s notes obtained by the court, he described Kives as “probably the most connected person” he had ever met.

In June 2022, SBF went to a charity gala at Casa Cipriani, New York, which DiCaprio also attended. According to The New York Times, Kives texted DiCaprio to say he should link up with SBF. Musician Taylor Swift was also linked to SBF, with CNBC reporting that agreed to a sponsorship deal – which FTX ultimately pulled out of.

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