FTX, the once-considered gold standard of cryptocurrency exchanges, has impacted quite a few celebrities who chose to endorse it before the crash.
In November, FTX filed for Chapter 11 bankruptcy after it was revealed the company had “a complete absence of trustworthy financial information” according to newly appointed CEO John J Ray III.
FTX had built a reputation for being reliable, in part thanks to their celebrity sponsorships and endorsements.
Football player Tom Brady, model Gisele Bündchen, CEO of the New England Patriots Robert Kraft, Paypal founder Peter Thiel, basketball players Shaquille O’Neal and Steph Curry, and more were among the celebrities who invested in FTX.
According to the filing, Brady had over 1.1 million in shares while Bündchen had more than 680,000 shares.
Although it is not disclosed how much the former couple lost monetarily, shares were trading at $73 at its peak in September 2021. Brady’s shares were valued at $45 million while Bündchen’s were valued at $25 million, according to Forbes.
Kraft held more than 110,000 Series B preferred shares in
KPC Venture Capital, a firm associated with Kraft held more than 110,000 Series B preferred shares in FTX Trading, 479,000 common shares, and 43,545 Series A preferred shares in West Realm Shires.
Thiel's family trust, Rivendell Trust, had over 300,000 shares.