Tom Brady Lost $30 Million When the FTX Crypto Exchange Collapsed
The cryptocurrency company FTX was one of the biggest players in the game before it all came crashing down. And now we’re learning how celebrities are faring in the wake of FTX’s collapse.
Tom Brady, one of the most notable celebrities to back the crypto exchange, apparently lost $30 million in FTX stock once the company faltered, The New York Times reported on Thursday. Gisele Bündchen, his former wife, lost $18 million. And now the two are being sued by FTX customers who want compensation for trusting their promotion of the company.
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Representatives for Brady declined to comment to the Times, while reps for Bündchen did not respond to the newspaper’s request for comment. However, the supermodel told Vanity Fair back in March that she had “trusted the hype” and felt “blindsided.” Brady, for his part, has not commented publicly on FTX or his relationship with its founder, Sam Bankman-Fried, The New York Times noted.
Back in 2021, Brady agreed to a partnership with the crypto company, appearing in commercials touting FTX and showing up at a company conference in the Bahamas. Sina Nader, FTX’s head of partnerships, told the Times that Brady seemed seriously interested in the crypto world, and that he sometimes chatted with Bankman-Fried.
“Imagine a tiger and a lion talking,” Nader said. “They’re slightly different, they do different things, but they’re really formidable in their own arenas.”
But following FTX’s 15 minutes of fame, the whole enterprise imploded in November. The company that had once been valued at $32 billion became worth nothing, and the celebrities who had supported its mission found themselves caught in the crosshairs. Along with Brady and Bündchen, people like Shaquille O’Neal, Kim Kardashian, and Lindsay Lohan have found themselves entangled in legal disputes related to FTX or other crypto exchanges.
Some celebs, however, have been able to avoid the mess: The New York Times noted that stars like Katy Perry and Taylor Swift were interested in partnering with FTX, but the deals never went through. While at the time it may have seemed like they were missing out on a massive payday, they’re probably happy now that the bill hasn’t come due.
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