The crypto world is experiencing one of the biggest slumps in recent history. Many top celebrities like Tom Brady and Gisele Bündchen happened to promote this currency by investing a major chunk of their wealth. One of them happens to be the FTX exchange which had incurred several losses in the last couple of days.

Within 72 hours, after Changpeng Zhao announced the takeover of the company, around $6 billion was lost in the form of withdrawals. It crashed the entire market by 70%, with the company’s CEO Sam Bankman-Fried himself losing around $ 14 billion, which accounts for 94 per cent of his total weapons.

It was last year when Brady and Gisele Bündchen agreed to sign a deal and bought the shares of the company. The quarterback joined as the brand ambassador, while the Brazilian beauty was the environmental and social initiatives adviser.

“Sam and I are both enthusiasts who share a belief that we are on this earth for a greater reason, and that we all have a role in safeguarding our planet. I look forward to working with the FTX team to create a positive impact in our world!” Bündchen said after joining the company last year.

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In the beginning, her wealth accumulation witnessed a surreal growth that too exponentially, but later the slump took it back to where it all started. Surprisingly, Brady and Bündchen together shared a massive wealth of $650 million as a couple for more than 13 years.

Just like Gisele Bündchen, Tom Brady was excited to join the business

This world of crypto and NFTs happens to be the modern techniques of wealth accumulation. Their growth is unrealistic and that is the reason why athletes these days invest in blockchain technologies.

‘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 last year. As of now, there is no clarity on his net losses; however, other popular coins like Bitcoins and Ethereum incurred losses of 11 and 18 per cent respectively.

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In the coming days, the slump is expected to continue. Investors should be ready to bear losses until this freefall stops at a threshold point. What do you think? Is the method suitable for investment?

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