Tom Brady and Gisele Bündchen linked to $32B FTX collapse over $2M stakes
Bankruptcy filings from 2023 revealed that Tom Brady and Gisele Bündchen held nearly two million shares in the collapsed cryptocurrency exchange FTX. The celebrity couple had previously served as high-profile ambassadors for the platform before its $32 billion valuation evaporated.
Why it matters
This case serves as a prominent example of the risks associated with celebrity endorsements of volatile financial products and the fallout from the crypto industry's 2022-2023 collapse.
Back in 2023, Tom Brady and Gisele Bündchen found themselves linked to one of the biggest financial shocks to hit the crypto industry. Bankruptcy documents revealed that the former couple held nearly two million FTX shares between them. After the once high-flying exchange collapsed, those stakes were considered virtually worthless, turning a high-profile celebrity partnership into a costly financial setback.Tom Brady and Gisele Bündchen’s FTX stakes revealedThe details emerged in January 2023, only months after FTX filed for Chapter 11 bankruptcy. Court documents showed that Brady owned more than 1.1 million common shares in the crypto exchange, while Bündchen held 686,000 shares.The documents did not reveal what either celebrity had paid for their holdings. That made it impossible to determine their exact personal losses.
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