Partners who hold the world’s collective imagination

FTX, one of the biggest crypto exchanges, might be going bust now. Its CEO has lost his entire fortune. The only olive branch the company had, the Binance rescue deal, is off the table. But the company saw its share of sunny days under Sam Bankman-Fried. They had Tom Brady and Gisele Bündchen as investors and partners. The businessman once outlined his plan to sign partners who “hold the world’s collective imagination.”

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He spoke about it at the Solana Breakpoint conference in Lisbon, Portugal, in 2021. Bankman-Fried pointed out that the number of such people that fulfill FTX’s criteria is, “very, very small.” “And I think Tom Brady is one of them. Gisele is one of them,” he said.

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FTX signed many deals with stars from different fields, but it couldn’t prevent the company from facing critical financial troubles. The cryptocurrency exchange, once valued at $32 billion, is now on a brink of a collapse.

Tom Brady and Gisele Bündchen attached almost their entire net worth to FTX

June 2021 was a good time for Tom Brady. He had just won the Super Bowl for the seventh time a few months ago with the Tampa Bay Buccaneers. And it was a good time to invest in the cryptocurrency market as well. So Brady and his now ex-wife, Gisele Bündchen, signed a deal with the crypto exchange FTX that month.

It was an equity deal that made Brady the brand ambassador of the company. The deal also gave Bündchen an environmental and social initiatives adviser role in the company. And the couple attached a handsome portion of their $600 million net worth to the investment.

Fast forward to 2022, the exchange has dropped 72% in value. The cryptocurrency market is in shambles. That may see both Brady and Bündchen lose a major chunk of their net worth. And crypto giant Binance has backed out of a penny-over-a-dollar deal to buy out the company, saying that the situation is beyond their ability to help.

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