Clobbered by crypto! Tom Brady, Gisele Bundchen, and Patriots owner Robert Kraft ‘are among investors who will lose their ENTIRE investments in FTX’s $32BILLION collapse’
Tom Brady, his ex-wife Gisele Bundchen, and former employer Robert Kraft are being counted among stakeholders who lost their entire investment in FTX’s $32 billion collapse.
Bankruptcy documents filed Monday show that the Tampa Bay Buccaneers quarterback owns more than 1.1 million common shares of FTX trading, while Bundchen has another 680,000 shares. Kraft, the billionaire New England Patriots owner, has 479,000 common shares and 43,545 preferred shares through one of his companies, KPC Venture Capital LLC.
The previous value of their respective investments remains unclear, but the company itself was once valued at $32 billion after founder Sam Bankman-Fried raised $400 million in investments.
Tom Brady (pictured), his ex-wife Gisele Bundchen , and former boss Robert Kraft are being counted among stakeholders who lost their entire investment in FTX’s $32 billion collapse
Bundchen went so far as to appear with Bankman-Fried at the Salt Crypto Bahamas Conference, where they discussed the sustainability of the cryptocurrency industry
Bankrupt companies rarely refund investors’ money because federal laws dictate creditors be repaid first and shareholders last.
‘At the end of the day, we’re not going to be able to recover all of the losses here,’ John J. Ray III, an executive specializing in recovering lost assets from failed companies, announced last month.
Brady’s agent, Don Yee, and a spokesman for Robert Kraft did not immediately respond to DailyMail.com’s request for comment.
FTX was a high-profile cryptocurrency exchange that made major inroads with investors, thanks to celebrity endorsements, including advertisements featuring Brady and Bundchen. The pair also received equity stakes in exchange for endorsing FTX.
Bankruptcy documents from the defunct crypto exchange show that the Tampa Bay Buccaneers quarterback owns more than 1.1 million common shares of FTX trading, while Bundchen has another 680,000 shares
Bundchen went so far as to appear with Bankman-Fried at the Salt Crypto Bahamas Conference, where they discussed the sustainability of the cryptocurrency industry.
Since then, FTX has collapsed, and last month, the US government filed criminal and civil charges against Bankman-Fried, the exchange’s 30-year-old founder of FTX, accusing him of widespread financial fraud.
Brady and Bundchen are also defendants in a class-action lawsuit filed by FTX investors who feel the former power couple duped them into substantial losses. The 45-year-old Brady even deleted old tweets in which he promoted FTX.
Other investors to lose money in FTX include Sequoia Capital, Tiger Global Management, and the Ontario Teachers’ Pension Plan, which previously owned the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors, MLS’ Toronto FC and CFL’s Toronto Argonauts.
Bankman-Friend faces eight federal charges, including accusations of overseeing massive fraud. He has pleaded not guilty on all counts.
Kraft, the billionaire New England Patriots owner, has 479,000 common shares and 43,545 preferred shares through one of his companies, KPC Venture Capital LLC