In an ad for the crypto exchange FTX featuring Stephen Curry earlier this year, a narrator repeatedly portrays the NBA star as a “crypto expert.” The legendary player denies this over and over, finally saying, “I’m not an expert, and I don’t need to be. With FTX I have everything I need to buy, sell, and trade crypto safely.” “Safely” is now in question. This week FTX declared bankruptcy, its CEO Sam Bankman-Fried resigned, and many investors who trusted the platform are wondering if they’ll ever get their money back. A slew of other top athletes also appeared in ads for FTX, including NFL star Tom Brady, who was given equity stake in FTX and became an ambassador for the company in a long-term partnership. The company even bought the naming rights for the Miami Heat’s home arena. But it isn’t just the FTX chaos affecting major sports stars. Elon Musk’s tumultuous takeover of Twitter has also had an impact, with major figures like LeBron James getting trolled by users pretending to be them thanks to a new, easily abused authentication feature. The turbulence shows star athletes are not immune to the confusion and upheaval roiling the tech industry. This week
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