In a twist that could only happen in the world of cryptocurrency, a group of investors are suing various internet influencers for promoting the now-defunct FTX exchange, claiming the influencers had pushed unregistered securities. The lawsuit seeks a staggering $1 billion in damages, proving that sometimes, the best way to solve a problem is to throw money at it - or, in this case, sue for it.

Among those named in the lawsuit are BitBoy Crypto's Ben Armstrong and YouTube finance guru Graham Stephan. Armstrong claims that he never received a dime from FTX, and plans to "countersue immediately." With a legal battle brewing, we can only hope that it's more entertaining than the Mayweather vs. Paul boxing match.

The lawsuit alleges that the influencers "endorsed and promoted" yield-bearing accounts offered by FTX, which it says was a "fraudulent scheme [...] designed to take advantage of investors from across the globe." Edwin Garrison, a resident of Oklahoma, is leading the lawsuit. With plaintiffs hailing from the United Kingdom, Canada, and Australia, this legal battle has a more international flair than a James Bond movie.

According to the lawsuit, the defendants are responsible for damages due to their "misrepresentations and omissions regarding the FTX platform." The suit claims that FTX could not have grown without the help of these influencers, who, in a plot twist worthy of a Hollywood thriller, allegedly received "undisclosed payments ranging from tens of thousands of dollars to multimillion dollar bribes."

YouTube is said to have played a central role in the promotion of FTX, with the lawsuit pointing out that the video streaming platform is now more popular than network television. That's right, folks - we live in a world where cat videos and makeup tutorials are more influential than the evening news.

Following the collapse of FTX, several of the lawsuit's defendants allegedly "scrubbed their YouTube channels of all video clips endorsing FTX and praising Sam Bankman-Fried," replacing them with apology videos. The irony here is as thick as the plot of an Agatha Christie novel.

The class action lawsuit is a consolidation of other suits brought against FTX's founder and former CEO Sam-Bankman Fried, FTX insiders, and celebrity brand ambassadors, including Tom Brady, Gisele Bündchen, and Larry David. With this motley crew of defendants, the courtroom proceedings are sure to be more entertaining than a night at the improv.

FTX, once a powerhouse in the cryptocurrency world, collapsed last November when its native token FTT took a nosedive. The subsequent run on the exchange revealed that FTX did not hold one-to-one reserves of customer assets, forcing it to file for Chapter 11 bankruptcy. This disaster story has more twists and turns than a roller coaster, and we're all strapped in for the ride.

Sam Bankman-Fried has since been arrested and charged with multiple financial crimes, to which he has pleaded not guilty. However, FTX insiders Caroline Ellison and Gary Wang have pleaded guilty and are cooperating with authorities. In true dramatic fashion, Bankman-Fried's criminal trial is set to take place in October. Get your popcorn ready.