Tom Brady and Gisele Bundchen.Photo: Carmen Mandato/Getty; George Pimentel/Getty
Tom BradyandGisele Bündchenare among those taking a hit from the failed crypto exchange FTX.
While the documents did not disclose how much Brady and Bündchen paid for the shares, the investments are considered “virtually worthless” following FTX’s downfall,Business Insidernoted.
Representatives for Brady and Bündchen did not immediately respond to PEOPLE’s request for comment.
The firm was forced to file for bankruptcy “after a run on deposits left FTX with an $8 billion shortfall,” theNew York Timesreported at the time. “The damage has rippled across the industry, destabilizing other crypto companies and sowing widespread distrust of the technology.”
Bankman-Fried was arrested in the Bahamas (the country where FTX is based) on Dec. 12 after U.S. prosecutors filed criminal charges against him.
At one point, FTX was valued at around $32 billion, CNN reported.
Brady, the Tampa Bay Buccaneers quarterback,served as a brand ambassadorfor FTX, while Bündchen was brought on as an “environmental and social initiatives advisor” in 2021.
“It’s an incredibly exciting time in the crypto-world, and Sam and the revolutionary FTX team continue to open my eyes to the endless possibilities,” Brady said in a news release at the time.
“This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet,” he added. “We have the chance to create something really special here, and I can’t wait to see what we’re able to do together.”
FTX’s new CEO, John Ray III, reportedly told Congress that the company would not be able to “recover all the losses here,” perFOX Business.
According to the outlet, Robert Kraft, the billionaire owner of the New England Patriots, also invested in FTX and is expected to lose large amounts of money.
source: people.com
