Tom Brady risks losing ENTIRE investment after FTX exchange he plunged fortune into crash

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 $6billion in withdrawals in the 72 hours leading up to Tuesday, and the market value of the exchange crashed by 70 percent this week as concerns about its financial health mounted.

The company’s CEO Sam Bankman-Fried lost an estimated $14.6bn – 94 percent of his net worth – overnight, according to Bloomberg, after FTX struck a bailout deal with rival company Binance.

While neither Brady or Bundchen are expected to see losses to the magnitude 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 announced as a brand ambassador and Bundchen an environmental and social initiatives adviser.

The ex-couple’s net worth is estimated to be $650million.

Tom Brady and now ex-wife Gisele Bundchen struck an equity deal with FTX last year but could lose their investment. The market value of the exchange crashed by 70 percent this week

Brady and supermodel wife Gisele Bundchen, 42, confirmed their divorce on October 28

The Tampa Bay Buccaneers quarterback has had a difficult time on the field in NFL this season 

‘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.

The crash of FTX comes as other cryptocurrencies have tumbled as well.

Bitcoin, the biggest cryptocurrency, was down 11 percent on the day on Wednesday morning, at $17,448.70, after plunging 10 percent the day prior in its worst day since mid-August.

Ethereum suffered as well, losing nearly 18 percent on the day.

Brady appeared in commercials for company FTX, including one with a flamethrower

The market value of FTX crashed by a staggering 70 percent this week

The crypto CEO whose troubled FTX sparked market panic: Hoodie-wearing vegan worth ‘$25BILLION’ who sleeps four hours a night 

Sam Bankman-Fried

Sam Bankman-Fried, a vegan who sleeps four hours a night, had become a public face of crypto money, with a personal fortune estimated at nearly $25 billion, which according to Forbes magazine has since shrunk to $16.6 billion.

The success of FTX allowed the platform to forge prestigious partnerships, notably with American football legend Tom Brady and former supermodel Gisele Bundchen, and it featured comedian Larry David in a Super Bowl television advertisement.

Almost always appearing with a hoodie and a dark T-shirt, Bankman-Fried has pledged to donate almost all of his fortune to his favored causes, like animal welfare and the fight against global warming.

The son of Stanford Law School professors and a graduate of the elite Massachusetts Institute of Technology (MIT), he worked as a broker on Wall Street before turning to cryptocurrencies in 2017.

Bankman-Fried moved the company to the Bahamas, where taxes are almost nonexistent, saying the Caribbean nation is ‘one of the few countries that has a comprehensive licensing regime for cryptocurrencies and cryptocurrency exchanges.’

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He has been a vocal advocate for smoother access to the crypto market for the general public, particularly in the United States.

Experts called the shock collapse of FTX another ‘alarm warning’ for the battered cryptocurrency market and said investors should be cautious for a while.

‘This is another black eye for the industry,’ said David Holt, a cryptocurrency industry expert at CFRA.

Binance’s billionaire boss Changpeng ‘CZ’ Zhao shocked the $1trillion crypto industry with a move to take over troubled exchange FTX, which is led by his chief rival and onetime disciple Bankman-Fried.

Zhao helped spark an exodus of users from the three-year-old FTX.com exchange by actively undermining confidence in its finances, and Bankman-Fried has seen 94 percent of his net worth wiped out as a result.

On Sunday, Zhao tweeted that Binance would sell its $2bn of holdings of FTX’s in-house digital token FTT, citing ‘recent revelations that have come to light’. 

He did not specify the allegations, but his intervention came just days after pseudonymous crypto researcher Dirty Bubble Media had accused another of Bankman-Fried’s companies, Alameda Research, of insolvency.

FTT, the smaller token tied to FTX, was down a further 23 percent, after collapsing 72 percent on Tuesday. Its market cap dropped below $600m, down from around $3bn at the start of the week, according to CoinGecko data.

‘This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet,’ Brady said in 2021.

Brady and Bundchen even appeared in commercials for the company in 2021.

The potential losses for Brady come after the quarterback’s recently announced divorce from Bundchen. 

The couple confirmed their split on October 28 after weeks of speculation. 

On the field, it hasn’t been much better for the seven-time Super Bowl winner either.

The Buccaneers are just 4-5 after snapping a three-game losing streak last weekend, as Brady has averaged nearly the lowest yards per attempt (6.4) of his career and he’s tossed multiple touchdowns in just one game so far.