Tom Brady's Crypto Investments: Millions In Digital Currency

Tom Brady, the seven-time Super Bowl champion and former NFL quarterback, lost a reported $30 million in the collapse of cryptocurrency company FTX. Brady served as an ambassador for FTX and frequently appeared in commercials for the company. As part of his deal with FTX, he was paid $30 million, most of which came in the form of now-worthless FTX stock. Brady's ex-wife, Gisele Bundchen, also received $18 million in FTX stock, and the couple is now being sued by FTX investors who want repayment from celebrity endorsers.

Tom Brady lost $30 million in the FTX collapse

Tom Brady, the seven-time Super Bowl champion and retired NFL quarterback, lost $30 million in the collapse of the cryptocurrency company FTX. Brady served as an "ambassador" for FTX and received $30 million in now-worthless stock for his work promoting the company in television ads and at its conference.

In 2021, Brady entered into an agreement with FTX, under which he received $30 million in stock for pitching the company. His then-wife, Gisele Bundchen, also received $18 million in stock as part of the deal. Following the collapse, both Brady and Bundchen are being sued by FTX investors who are seeking repayment from celebrity endorsers.

The lawsuit, filed in federal court in Florida, alleges that Brady, Bundchen, and other celebrity endorsers failed to perform "any due diligence prior to marketing these FTX products to the public." Before its collapse, FTX was valued at $32 billion, including the $48 million in shares held by Brady and Bundchen. Now, the company has filed for bankruptcy, and its stock is worthless.

In addition to the financial losses, Brady also faces legal risks. FTX's former CEO, Sam Bankman-Fried, has been sentenced to 25 years in prison for his role in the fraud. The collapse of FTX has not only affected investors but also celebrities like Brady who promoted and invested in the company.

Despite these losses, Brady is likely to be financially secure. He earned over $300 million in NFL salaries during his 23-year career and has made significant earnings from endorsement deals and off-the-field investments. Additionally, he signed a $375 million contract with Fox Sports to work as an analyst.

He was an ambassador for FTX

Tom Brady, the seven-time Super Bowl champion, was a leading ambassador for FTX, a now-bankrupt cryptocurrency exchange. As part of his endorsement deal, Brady received $30 million in FTX stock for promoting the company in television ads, at its conference, and during the Super Bowl. Brady's then-wife, Gisele Bundchen, was also involved in the promotion and received $18 million in FTX stock.

Brady's role as an ambassador for FTX was significant. He actively promoted the company and its products, appearing in TV commercials and at the company's conference in the Bahamas. In one ad campaign, Brady enthusiastically pitched crypto trading on FTX, asking his friends: "Crypto. FTX. You in?" This promotion positioned FTX as "the most trusted" institution in the crypto world, which was a crucial message in attracting customers.

The value of Brady's endorsement extended beyond the direct promotions. As a highly successful athlete, his association with FTX added credibility and allure to the company and its offerings. Brady's reputation and influence likely contributed to the perception of trust and reliability that FTX sought to cultivate. This perceived endorsement of FTX by Brady may have influenced the decisions of potential customers, particularly those who admired or trusted him.

However, the collapse of FTX resulted in significant losses for Brady. The $30 million he received in FTX stock is now worthless, and he may face additional financial burdens in the form of tax payments on that stock. Furthermore, Brady is facing legal repercussions as he is being sued by FTX investors who seek repayment from celebrity endorsers. The lawsuit alleges that Brady and other celebrities failed to perform due diligence before promoting FTX and its products.

The fallout from Brady's association with FTX highlights the risks associated with celebrity endorsements in the volatile world of cryptocurrency. While Brady's endorsement initially brought attention and credibility to FTX, the company's bankruptcy and legal troubles have now reflected negatively on him. This situation underscores the importance of thorough due diligence and the potential consequences when such diligence is lacking.

Brady and his ex-wife Gisele Bundchen endorsed FTX

In 2021, Tom Brady and his then-wife Gisele Bundchen signed an endorsement deal with FTX, a cryptocurrency company. The couple received equity in FTX and a signing bonus in crypto as part of the deal. Brady received \$30 million in now-worthless stock for his work promoting the company in television ads and at its conference. Bundchen, who was also a part of these promotions, received \$18 million in stock.

Brady and Bundchen were featured in an ad campaign for FTX, where an enthusiastic Brady called up friends to pitch crypto trading on the platform. The ad also featured Bundchen and was akin to Brady recruiting buddies to come and play football with him, with Brady repeatedly asking, "Crypto. FTX. You in?".

FTX filed for bankruptcy in November 2022, and its former CEO, Sam Bankman-Fried, is facing federal fraud-related charges. The company's collapse has resulted in financial losses for Brady and Bundchen, who are also being sued by FTX investors who are seeking repayment from celebrity endorsers. The lawsuit alleges that the celebrity endorsers did not perform any due diligence before promoting FTX and its products to the public.

They received compensation in FTX stock

In 2021, Tom Brady and his then-wife, Gisele Bundchen, became ambassadors for the cryptocurrency company FTX. The couple promoted the company in television ads and at its conference. As part of their agreement with FTX, Brady and Bundchen received compensation in the form of FTX stock. Brady received $30 million worth of stock, while Bundchen received $18 million.

At the time, the company was valued at $32 billion, including the $48 million in shares held by Brady and Bundchen. However, in November 2022, FTX filed for bankruptcy, rendering the stock holdings of its celebrity endorsers worthless. The company's former CEO, Sam Bankman-Fried, was charged with fraud-related crimes, and is currently serving a 25-year prison sentence.

Following the collapse of FTX, Brady and Bundchen are among several celebrities facing a lawsuit from a group of FTX customers. The lawsuit alleges that the celebrity endorsers made misrepresentations and omissions to induce confidence and drive consumers to invest in what was ultimately a Ponzi scheme.

While the exact amount of Brady's investment in FTX is unclear, it is believed to have been significant. Brady owned over 1.1 million common shares of FTX Trading, which were valued at about $45 million before the company went bankrupt. In addition to his role as an ambassador, Brady also co-founded an NFT startup called Autograph, which has struggled in the wake of the crypto crash.

The financial loss for Brady is substantial, but it is important to note that he has a substantial net worth from his NFL salaries, endorsements, and other investments.

Brady co-founded the NFT startup Autograph

It is unclear how much money Tom Brady invested in crypto, but reports suggest he lost $30 million in the collapse of the cryptocurrency company FTX. Brady served as an "ambassador" for FTX and received $30 million in now-worthless stock for pitching the company in television ads.

The idea for Autograph came from Rosenblatt's childhood collection of football and basketball cards, which he revived during the pandemic. He presented the concept to his father, Richard Rosenblatt, and their family friend, Tom Brady. Brady and Richard Rosenblatt signed on as co-founders, and Brady helped bring on major players as advisors, including Apple Senior Vice President Eddy Cue, tennis star Naomi Osaka, and L.A. Dodgers owner Peter Guber.

Autograph has sold NFTs featuring celebrities like Tiger Woods, Simone Biles, Naomi Osaka, Usain Bolt, and LeBron James. They have also done drops with The Weeknd, Slam Magazine, and officially licensed NFTs for the horror series Saw. The company aims to provide a curated environment for celebrities to dip their toes into crypto influencing and connect with their fans.

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