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Divorce, defeats… and now the crypto crash! Tom Brady risks losing ENTIRE investment after the FTX exchange in which he and his ex-wife Gisele Bundchen nearly collapsed their fortunes, adding to his recent woes
Tom Brady’s difficult 2022 has gotten worse as the Bucs star and his ex-wife Gisele Bundchen have been caught up in the crash of cryptocurrency exchange FTX.
FTX saw more than $6 billion in withdrawals in the 72 hours leading up to Tuesday, and the exchange’s market value plunged 70 percent this week amid mounting concerns over financial health.
The company’s CEO, Sam Bankman-Fried, lost an estimated $14.6 billion dollars — 94 percent of his net worth — overnight, according to Bloomberg, after FTX signed a bailout deal with rival company Binance.
The ex-couple struck a stock deal with FTX last year, but could now lose their investment
While neither Brady nor Bundchen are expected to incur losses on the scale of Bankman-Fried, the company’s recent developments could certainly leave a dent.
The ex-couple took an equity stake in the company last year, with Brady being announced as a brand ambassador and Bundchen as an advisor on environmental and social initiatives.
The ex-couple’s net worth is estimated at $650 million.
“It’s an incredibly exciting time in the crypto world, and Sam and the revolutionary FTX team continue to open my eyes to the endless possibilities,” Brady said in a press release at the time. ‘
Brady appeared in commercials for the company, including one featuring a flamethrower
“This particular opportunity showed us the importance of educating people about the power of crypto while also giving back to our communities and planet.”
Brady and Bundchen even appeared in commercials for the company in 2021.
Brady’s potential losses come after the quarterback’s recently announced divorce from Bundchen.
Things weren’t much better on the field for the seven-time Super Bowl winner, either.
The Buccaneers are only 4-5 after losing a three-game streak last weekend as Brady has averaged nearly the lowest yards per attempt (6.4) in his career and has multiple touchdowns so far. thrown in just one game.