Former NFL star QB Tom Brady lost at least $30 million due to the collapse of cryptocurrency company FTX according to the New York Times. Brady, who served as an ambassador for FTX, was paid largely in the form of FTX stock, which is now worthless following the company’s bankruptcy.
Tom Brady and FTX
As part of his deal with FTX, Brady frequently appeared in commercials for the company, promoting its potential as a cryptocurrency platform. However, the company’s downfall has resulted in a significant financial loss for the football star. Brady’s ex-wife, supermodel Gisele Bündchen, also received $18 million in FTX stock, which is now completely worthless.
FTX’s founder, Sam Bankman-Fried, is currently facing criminal charges, further complicating the situation. Brady and Bündchen are just some of the celebrities facing a lawsuit from a group of FTX customers who are upset with their endorsements for the company. Other celebrities named in the lawsuit include comedian Larry David, tennis star Naomi Osaka, and Golden State Warriors guard Stephen Curry.
This unfortunate event serves as a cautionary tale about the volatile nature of cryptocurrency investments. Even for high-profile individuals like Tom Brady, the potential for significant financial loss is a real risk. As the legal proceedings continue, the full impact of FTX’s collapse on its celebrity endorsers remains to be seen.
There’s little doubt that the outcome of this situation will shape how celebrities endorse things in the future. There’s not a single famous person out there that hasn’t looked at this situation and thought, “Wow, that’s not much different than what I’m involved in.” It will be quite interesting to see how this one ends…a lot of people lost their hard-earned money to investments they should have never made in the process. The problem for guys like Brady is his face is one people align in their memories with success.
Other Celebs Involved With FTX
In addition to Tom Brady’s loss, other celebrities reportedly lost money due to their involvement with FTX. NBA Hall of Famer Shaquille O’Neal, who also promoted the company, reportedly went to great lengths to avoid being served in the lawsuit before process servers finally tracked him down at an NBA game earlier this spring. The extent of O’Neal’s financial loss is currently unknown.
FTX’s collapse is a stark reminder of the risks associated with cryptocurrency investments. As the dust settles, the full extent of the financial damage to Brady and other celebrity endorsers is becoming more clear by the day.
In Other News
Tom and Kim Kardashian were both guests at billionaire Michael Rubin’s annual July Fourth party in the Hamptons. However, despite rumors of a flirtatious connection between the two, sources have provided conflicting accounts of their interaction at the event.
One insider told the Daily Mail that Kardashian and Brady were “super flirty” with each other, both on the beach during the day and dancing at night. However, another source contradicted this account, telling People that the two “barely even spoke at the party and barely even said hello.”
Further muddying the waters, a third insider claimed that Kardashian and Brady “are friends and have a lot of respect for each other” and that Kardashian is currently very focused on her children and her businesses, not on being in a relationship.
Despite these conflicting accounts, one thing seems clear: both Kardashian and Brady enjoyed themselves at the party. Kardashian even admitted on Twitter that she had a few shots, leading to some light-hearted gushing. As for Brady, he was seen spending time with model Emily Ratajkowski, though sources insist their interaction was friendly, not romantic.
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