According to reports, former NFL player Tom Brady invested in FTX, a cryptocurrency exchange company. However, it appears his investment went south after the company filed for bankruptcy in November 2022. Now, it has been reported that Brady’s endorsement deal with Brady that paid him $30 million that “consisted almost entirely” of stock, was a loss for the retired sports figure.
Following the company filing bankruptcy, Brady and many others faced a lawsuit for allegedly violating Florida securities and consumer protection laws. The suit claimed there was specific financial information the celebrities didn’t disclose and called them out for promoting FTX without doing due diligence.
It was reported that Brady previously owned over 1.1 million common shares of FTX, seemingly losing his whole investment before FTX went down due to bankruptcy.
Source: bleacherreport.com
