Staff writer
·2 min read
Tom Brady apparently lost millions after cryptocurrency company FTX collapsed last fall.
The longtime NFL quarterback served as an ambassador for FTX and frequently appeared in commercials for the company. As part of his deal with the now-defunct company, The New York Times reported on Friday, he was paid $30 million — most of which came in the form of FTX stock. Brady’s ex-wife, supermodel Gisele Bündchen, received $18 million in FTX stock, too.
But since FTX is now bankrupt and its founder, Sam Bankman-Fried, is facing criminal charges, that stock is now completely worthless.
Brady even reportedly made an “urgent phone call” to FTX head of partnerships, Sina Nader, during the collapse.
“I never would have expected to decline a call from Tom Brady,” Nader told The New York Times, saying he was in a crisis meeting with Bankman-Fried and others at the time. He later called Brady back, and said the former quarterback was “concerned.”
Brady and Bündchen are just some of the celebrities facing a lawsuit from a group of FTX customers who are upset with their endorsem*nts for the company. Comedian Larry David, tennis star Naomi Osaka and Golden State Warriors guard Stephen Curry, among others, all promoted the company in commercials and are named in the lawsuit. NBA Hall of Famer Shaquille O’Neal promoted it, too, and even reportedly went to great lengths to avoid being served in the lawsuit before process servers finally tracked him down at an NBA game earlier this spring.
Bankman-Fried was arrested in January and charged with wire fraud, securities fraud, money laundering and more. FTX had reached a deal to be the primary sponsor for the Miami Heat’s arena, but that deal was ended after the company’s collapse. It’s now called the Kesaya Center.
Brady and Bündchen starred in a $20 million advertising campaign for FTX, per the report, and Brady even posted TikToks with Bankman-Fried from the company’s headquarters in the Bahamas.
According to The New York Times, pop star Taylor Swift was in discussions with FTX for a deal that could have paid her as much as $100 million. She even signed a deal with FTX, but it was Bankman-Fried who pulled out in the end, something that left her team “frustrated and disappointed.”
