How much did former Patriots QB Tom Brady lose in FTX collapse?
Former New England Patriots quarterback Tom Brady has lost a lot of money after FTX, a cryptocurrency exchange company, filed for bankruptcy in November. The New York Times Erin Griffith and David Yaffe-Bellany reported that Brady, who was an ambassador for the company, lost around $30 million in FTX stock due to the company's collapse. Brady's ex-wife Gisele […]
Former New England Patriots quarterback Tom Brady has lost a lot of money after FTX, a cryptocurrency exchange company, filed for bankruptcy in November.
The New York Times Erin Griffith and David Yaffe-Bellany reported that Brady, who was an ambassador for the company, lost around $30 million in FTX stock due to the company's collapse.
Brady's ex-wife Gisele Bündchen reportedly lost $18 million in FTX stock as well.
"When FTX collapsed last November, the company’s $32 billion valuation — including Mr. Brady and Ms. Bündchen’s $48 million of shares — plummeted to zero," Griffith and Yaffe-Bellany wrote.
And with the fallout, FTX's founder Sam Bankman-Fried is facing numerous different criminal fraud charges.
Similarly, with the company's fall and Bankman-Fried's arrest, the New York Times further reports that Brady and Bündchen are being "sued by a group of FTX customers seeking compensation from the celebrities who endorsed the exchange."
He is also facing a lawsuit in federal court in Florida, accusing the former quarterback of misleading investors.
However, he is not alone, with comedian Larry David, Golden State Warriors star Steph Curry, and tennis player Naomi Osaka also having endorsed FTX.
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