Crypto

Tom Brady lost a massive fortune with the collapse of the FTX cryptocurrency exchange

The former NFL quarterback and his ex-wife are out millions of dollars because of FTX’s ineptitude

In the wake of his professional football career, renowned NFL figure Tom Brady has been engrossed in a myriad of entrepreneurial ventures. However, amid this whirlwind of activity, a shared predicament reportedly saw both Brady and his former spouse, Gisele Bündchen, lose a fortune. The couple, having made a collective investment in the FTX exchange, were victims of the exchange’s ineptitude and the subsequent turn of events, resulting in a staggering loss of $48 million.

Reports state that in 2021, the world-renowned football star and his then-wife collaborated with the popular cryptocurrency platform. This lasting partnership occurred during their harmonious and committed relationship. Tom Brady reportedly invested $30 million towards this endeavor, while Bündchen contributed $18 million. Unfortunately, FTX’s bankruptcy made it all vanish. The agreement they had with the exchange was reportedly for shares in the company.

FTX’s bankruptcy resulted in the loss of the Ethereum, Bitcoin and Solana tokens, as well, that were given to the widely renowned quarterback and future Hall of Famer, and the Nova fashion model for trading purposes. Moreover, Brady took on the role of an ambassador for FTX, while Gisele will champion the organization’s endeavors in environmental and social initiatives. FTX’s lack of liquidity has rendered both stakes devoid of any value.

The FTX calamity could add insult to injury for Brady. In addition to losing almost $50 million, he, along with his ex and Shaquille O’Neal and Stephen Curry of the NBA, has also been wrapped up in lawsuits that stemmed from the collapse of the exchange. They face a litigious battle for having supported the exchange.

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