Robert Kiyosaki advocates buying Bitcoin while YouTubers are hit with $1 billion lawsuit by FTX investors

Robert Kiyosaki, crypto influencer and the author of the book Rich Dad, Poor Dad recently advised traders to buy Gold, Silver and Bitcoin. Kiyosaki’s tweet comes at a time when YouTubers and crypto influencers have been hit by a class action lawsuit for promoting unregistered securities. 

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Robert Kiyosaki advocates purchase of Gold, Silver and Bitcoin

Robert Kiyosaki, one of America’s leading influencers, commented on the recent collapse of Silicon Valley Bank. The Rich Dad Poor Dad author recommended that market participants buy Gold, Silver and Bitcoin amidst the ongoing uncertainty. 

Kiyosaki’s advocacy for Bitcoin comes at a time when YouTubers and crypto influencers are facing flak for their promotion of defunct-exchange FTX’s unregistered securities. FTX’s investors recently grouped together to file a class action lawsuit against BitBoy crypto creator Ben Armstrong and Graham Stephen alongside other individuals and talent management firm Creators Agency. 

Class action lawsuit filed by FTX investors 

The lawsuit seeks over $1 billion in damages and accuses the creators of promoting the sale of unregistered securities. FTX exchange is now defunct after its collapse in November 2022, while investors are left scrambling to recover their funds from the platform. 

Armstrong argued that he never received payment from FTX exchange and plans on countersuing. The creator of BitBoy says that the allegations against him are 100% false and it will be extremely easy to provide evidence of the same.