The Larry David Crypto Cautionary Tale: How an SNL Legend's FTX Ad Became the Year's Most Ironic Warning

Comedian Larry David has become the unlikely face of cryptocurrency caution after reluctantly admitting his role in one of entertainment’s most spectacularly ill-timed advertisements. The legendary satirist recently reflected on his decision to appear in a now-infamous Super Bowl commercial for Sam Bankman-Fried’s FTX exchange, confessing that he should have trusted his instincts about the booming digital asset space.

When Comedy Collided with Crypto Innovation Claims

David’s Super Bowl spot featured the comedian playing a skeptical character who dismisses groundbreaking innovations throughout history. In a series of vignettes, he rejected the wheel, the fork, the toilet, and other fundamental technologies with an unmistakable “Eh, I don’t think so.” The pattern continued when the commercial pivoted to crypto, with an actor pitching FTX as “a safe and easy way to get into crypto.” David’s response remained consistent: another dismissive rejection accompanied by his confident assertion, “I’m never wrong about this stuff. Never.” The screen then displayed the campaign’s tagline: “DON’T BE LIKE LARRY.”

The irony would prove devastating just months later.

The Ad That Predicted Its Own Demise

By November 2022, barely months after the Super Bowl broadcast, the entire FTX operation spectacularly imploded. What had seemed like a legitimate digital currency platform turned out to be built on fraud. Founder Bankman-Fried was later convicted in November 2023 of orchestrating a scheme that stole billions from customers. FTX users discovered they couldn’t access their funds as the exchange descended into chaos, with a CoinDesk investigation in November 2022 triggering a cascade of events that ultimately led to bankruptcy.

The satirical wisdom David’s character displayed in the commercial—the skepticism toward this particular crypto platform—accidentally became prophetic. His scripted distrust of FTX alignment perfectly with what reality would soon reveal.

A Personal Crypto Reckoning

During a recent media interview, David acknowledged the embarrassing miscalculation with characteristic self-deprecation. “I asked people, friends of mine who were well-versed in this stuff, ‘Should I do this ad?’” he explained to the Associated Press. “They said, ‘Yeah, this is totally on the up and up,’ … So, like an idiot, I did it.”

What made matters worse for David personally: he wasn’t simply earning a standard celebrity endorsement fee. “Part of my salary was in crypto,” he revealed, meaning his FTX compensation was partially denominated in the exchange’s native token. When FTX crashed, so did a significant portion of his earnings from the project.

The Crypto Industry Reckons with Collapse Aftermath

The FTX bankruptcy has cast a long shadow over the broader digital asset landscape. However, recent developments suggest some recovery may be possible. The FTX bankruptcy estate announced plans to fully repay affected customers, offering a glimmer of hope for those who lost access to their holdings during the platform’s November 2022 collapse.

Beyond FTX, the crypto sector continues navigating turbulent waters. The Chicago-based trading platform Blockfills, which processed over $60 billion in trading volume during 2025, faced severe headwinds during broader market downturns and subsequently froze customer deposits and withdrawals in February. The firm’s CEO, Nicholas Hammer, stepped down from his position. Such developments remind investors why figures like Larry David’s comedic skepticism about crypto platforms—even when delivered as satire—carry unexpected weight.

The Larry David episode serves as a cautionary reminder about celebrity endorsements in the volatile digital asset space and the genuine risks that can lurk beneath industry assurances about safety and legitimacy.