Tampa bay Bucs QB Tom Brady was among a ton of high-profile figures and companies who lost tons of money following the collapse of the crypto exchange FTX, according to bankruptcy filings.
Brady is said to have held 1.14 million shares in FTX trading. He wasn;t the only investor as it also included his ex-wife, Gisele, and Patriots owner Robert Kraft.
Gisele Bündchen held around $680K. Kraft, the billionaire New England Patriots owner, has 479,000 common shares and 43,545 preferred shares through one of his companies, KPC Venture Capital LLC.
This week, FTX will ask a US bankruptcy court to allow them to auction off pieces of its business that include LedgerX, Embed, FTX Japan and FTX Europe. They also want to keep customer names secret for at least six months while it works to recover funds lost in what was allegedly a huge fraud.
The company was once valued at $32 billion after founder Sam Bankman-Fried raised $400 million in investments. FTX was a high-profile cryptocurrency exchange that had celebrity endorsements, including advertisements featuring Brady and Bundchen. That got a lot of people who could not afford to lose money on board and now those same people are screwed as many have lost a ton of their savings if not all of it.
Since the collapse of FTX, the US government filed criminal and civil charges against Bankman-Fried, the exchange’s 30-year-old founder of FTX, accusing him of widespread financial fraud. Brady and his ex-wife are defendants in a class action lawsuits filed by FTX investors who feel the former couple tricked them into substantial losses.
Brady has since deleted old tweets in which he promoted the company.
Click on ‘Follow Us’ and get notified of the most viral NFL stories via Google! Follow Us
Other investors to lose money in FTX include Sequoia Capital, Tiger Global Management, and the Ontario Teachers’ Pension Plan, which previously owned the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors, MLS’ Toronto FC and CFL’s Toronto Argonauts.
Bankman-Friend faces eight federal charges, including accusations of overseeing massive fraud. He has pleaded not guilty on all counts.
