Home » Why Tom Brady and Gisele Bundchen could get burned in the FTX crypto collapse

Why Tom Brady and Gisele Bundchen could get burned in the FTX crypto collapse

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With the collapse of cryptocurrency exchange FTX shocking the digital currency market, analysts are wondering what will happen with the company’s bankruptcy filing. impact It was a glamorous roster that included quarterback Tom Brady, supermodel Gisele Bündchen and NBA star Stephen Curry.

FTX filed for bankruptcy protection on Friday, ending a disastrous few days for what was once the world’s third-largest cryptocurrency exchange. The company’s CEO and founder Sam Bankman-Fried has stepped down.

Last year, Brady and then-wife Bündchen entered into a “long-term partnership” with FTX. Awarded investment in According to a June 2021 press release, the company Transaction announcement.

Brady, who won his seventh Super Bowl with the Tampa Bay Buccaneers a few months ago, was an FTX ambassador. Reported by MarketWatch On Friday, Bündchen was an advisor to the company’s environmental and social initiatives.

The two also appeared in a TV commercial for FTX.

According to the release, Brady and Bundchen received cryptocurrency as part of the deal, but it’s unclear how much they invested in the company or how much cryptocurrency they received.the couple ever since divorced.

A few months after the deal was announced, FTX was valued at a staggering $32 billion, MarketWatch reports.

“It’s an incredibly exciting time in the world of cryptocurrencies, and Sam and the innovative FTX team continue to see limitless possibilities,” said Brady in the 2021 release. “This particular opportunity has demonstrated the importance of educating people about the power of crypto while also giving back to our community and the planet. I can’t wait to see what we can do together.”

His words are echoed in a 2021 statement by Bündchen.

“It was fascinating to learn more about the world of cryptocurrencies!” she said in the release. “Cryptocurrency will become more and more accessible to all of us as time goes on. It had the potential to bring real change to our society by making life possible.”

The company was committed at the time by Brady and Bündchen as part of an agreement to provide millions of dollars in annual donations to charities, and Bündchen was committed to facilitating FTX’s initiatives such as reducing and boosting its carbon footprint. “I play an important role,” he said. Equality and diversity.

Additional high-profile investors included the Jacksonville Jaguars quarterback Trevor LawrenceMajor League Baseball pitcher and slugger Shohei Ohtanitennis star Naomi Osaka Sharktank’s Kevin O’Leary and MarketWatch reported.

On Monday, The Wall Street Journal report That the Federal Attorney’s Office in Manhattan is investigating the collapse of FTX.One of his areas the prosecutor is focusing on is FTX lent the client money The newspaper reported to Alameda Research, a cryptocurrency trading firm that traded on FTX and other exchanges. Bankman-Fried also founded and owns Alameda Research.

MarketWatch said on Friday that while it was unclear what would happen to the money investors put into FTX, their shares was able to clean up Depending on the bankruptcy filing.

Materials from the Associated Press were used in this report.

Travis Andersen can be contacted at: travis.andersen@globe.comfollow him on twitter @TAG Robe.

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