Tom Brady Loses Big With FTX Crypto Collapse

Tom Brady stares blankly to the side

Tom Brady, Mi’s quarterbackami Buccaneers announced a brand ambassador partnership with FTX in 2021.
Image: Mike Ehrmann (Getty Images)

The dissolution and acquisition One of the world’s largest cryptocurrency exchanges, FTX, is set to take a big hit to the company’s investors. It should be noted that one of these investors is one of the most famous players of American Football he stayed on the field longer than he wants to be.

In 2021, Tom Brady and his then-wife, Brazilian model Gisele Bündchen made a big stake in the FTX cryptocurrency exchange after announcing a partnership with FTX and its CEO Sam Bankman-Fried in 2020. received an undisclosed amount of equity in the company in exchange for cryptocurrencyprobably FTT’s native coin FTT.

On Tuesday, FTX announced it would be acquired by rival Binance, now looking to cement itself as the biggest underdog eggbox on the rapidly disintegrating crypto junk pile. This is on top of liquidity issues that stop users from being able to withdraw their cryptocurrencies from the exchange. FTX has promised to refund users, but has yet to come up with a timetable for when that might happen.

The Buccaneers quarterback has a net worth of $250 million compared to Bundchen. 400 million dollars according to the tracking site Celebrity Net Worth. The “long-term partnership” with FTX, which is slated for 2021, noted that both celebrities and the crypto company will make multi-million annual contributions to charity. The collapse of FTX could jeopardize the fate of both stars.

Brady said at the time press release that “Sam and The revolutionary FTX team continues to open my eyes to the endless possibilities of cryptocurrency. Bundchen also said in this release: “As time goes by, cryptocurrency will become more and more familiar to all of us.”

It’s unclear how much money either celebrity has invested in the stock market, although reports have indicated that FTX’s valuation has increased by more than 1,000% in 2021. From $89 million to $1 billion. as mentioned by CoinDeskFTX was looking at a $1 billion funding round and a $132 billion valuation in recent months.

Gizmodo reached out to the press teams for both Brady and Bündchen, but did not immediately hear back. Brady and Bündchen they finalized their divorce Although in October and 45-old Brady originally planned to retire from the NFL this year, he has remained Buccaneers quarterback. Jokes are already rife that this latest financial disappointment could further delay Brady’s retirement.

Brady has already been active in the crypto sphere, helping out NFT has found its beginning It’s called Autograph, which makes impossible tokens for the NFL. He just was is one of many celebrities This is 2021, when blockchain bulls jumped on the cryptocurrency bandwagon when they preached that the value of the cryptocurrency would only ever go up. Actor during superbowl that year Matt Damon is confused for with his famous “Fortune Favors the Brave” ad.

Brady most likely Throwing more than Microsoft Surface There was a lot of smoke in the square with the FTX news, but that’s nothing compared to how the calm and collected FTX founder Sam Bankman-Fried publicly reacted to the news.

Now that it’s becoming increasingly clear that FTX is a sandcastle built on a passing wave, Bankman-Fried’s $15.6 billion piggy bank may soon be extinguished. The 30-year-old billionaire had a 53% stake in his $6.2 billion company and a $7.5 billion stake in crypto research firm Alameda. Bloomberg. As of Tuesday, Bankman-Fried could not even be found Bloomberg Billionaires Indexmeaning the company expects the young man’s fortune to disappear completely, leaving him with just $1 billion, a 94% loss.

Cryptocurrency and financial analysts have already analyzed the motivations of Binance CEO Chengpeng Zhao and why he decided to buy his rival. After the founder left Bankman-Fried and was paid in cryptocurrency, Zhao owned a fairly large share of FTT tokens. Luck. After dumping all those tokens over the weekend, Zhao took the bottom of the SBF ship, and in just a few days, neither FTX nor Alameda had any real legs to stand on.

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