NFL football star Tom Brady and supermodel Gisele Bündchen staked a $650 million fortune in the now-beleaguered FTX crypto exchange during its bullish days.
In June 2021, Brady and Bündchen each took an equity stake in FTX Trading Limited as part of a long-term partnership. The deal gave Brady an ambassador role for FTX and Bündchen the role of Environmental and Social Initiatives Advisor. Brady also received Bitcoin as part of the deal but the rest of the equity stake and terms were not disclosed.
With recent developments leading to Binance’s buy-out of FTX, Brady, and Bündchen’s $650 million stake is at considerable risk.
Speculation and concerns about the solvency of FTX have been mounting as Binance CEO Changpeng “CZ” revealed Binance is liquidating all remaining FTT tokens on its books and the acquisition of FTX reports revealed that FTX’s sister company Alameda Research trading firm had assets worth $ 14.6 billion linked to the token. CZ announced it will liquidate
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