The former CEO of crypto exchange FTX, Sam Bankman-Fried, lost his entire $16 billion fortune in just a few days after his company filed for Article 11 bankruptcy protection, but he’s not the only recognizable investor who could lose a lot of money from FTX’s collapse.
As interest in cryptocurrency trading and exchanges has skyrocketed in recent years, several famous people, including professional athletes and other entertainment personalities, have in turn invested in FTX.
One of those athletes is the quarterback of the Tampa Bay Buccaneers American football team, Tom Brady.
Just a few months after winning his seventh Super Bowl in 2021, Brady and his then-wife Giselle Bundchen both received equity in FTX, in addition to cryptocurrency. Brady served as an ambassador for the company and Bundchen became an advisor to FTX’s environmental and social initiatives. The two also starred in several television commercials for FTX.
“It’s an incredibly exciting time in the crypto world and Sam and his revolutionary team at FTX continue to open my eyes to the limitless possibilities,” Brady said in 2021. “This special opportunity has shown us the importance of educating the world about the power of crypto while at the same time giving back to communities and the planet. We have the opportunity to create something truly special here and I look forward to seeing what we can do together.”
It’s not clear how much equity was given to Brady and Budden in 2021, but FTX raised capital with a $32 billion valuation a few months after the deal was announced.
Similar is the story of NBA and Golden State Warriors star Steph Curry, who became a global ambassador of the FTX brand and who also received an equity stake in the company in 2021.
It is not clear what will happen to the money investors put into FTX, but their own funds could be wiped out by the bankruptcy filing.
Other high-profile investors in FTX included Jacksonville Jaguars quarterback Trevor Lawrence, baseball player Shohei Ohtani, tennis player Naomi Osaka and Sharktank’s Kevin O’Leary.
featured image source: TMZ