Tom Brady lost $30 million after FTX collapse: report
Brady was an 'ambassador' for the exchange and is now involved in a lawsuit
Tom Brady invested $30 million in FTX and was an "ambassador" for the cryptocurrency exchange. It's all gone now.
According to a report by The New York Times, Brady and his ex-wife Gisele Bunchen combined to lose $48 million when FTX collapsed.
FTX filed for bankruptcy in November after a week of tumult for the exchange and what has been the crypto equivalent of a bank run.
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Tampa Bay Buccaneers quarterback Tom Brady (12) looks onto the field as he enters from the tunnel before a game against the Pittsburgh Steelers at Acrisure Stadium in Pittsburgh Oct. 16, 2022. (Shelley Lipton/Icon Sportswire via Getty Images / Getty Images)
FTX got involved with a number of sports leagues and athletes, striking deals with Mercedes for Formula One racing and a sponsorship deal with Major League Baseball.
Investors recently filed a class-action lawsuit against founder Sam Bankman-Fried that names Tom Brady, Steph Curry, Shaquille O'Neal, Trevor Lawrence, David Ortiz, Shohei Ohtani and Naomi Osaka as defendants.
Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York Jan. 3, 2023. (Stephanie Keith/Bloomberg via Getty Images / Getty Images)
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Bankman-Fried saw his net worth plummet from $30 billion to $15 billion after the collapse, and he is now facing federal fraud charges.
The Miami Heat found a new name for their arena, formerly known as FTX Arena, after the collapse. Miami-Dade County owns the arena and negotiated the naming rights to the venue. The two sides agreed on a 19-year, $135 million agreement in June 2021.
Gisele Bündchen and Tom Brady attend the 2019 Met Gala celebrating "Camp: Notes on Fashion" at The Metropolitan Museum of Art May 6, 2019, in New York City. (Taylor Hill/FilmMagic / Getty Images)
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Brady called it a career "for good" in February, retiring for a second time. He retired for 40 days last year before returning, citing "unfinished business." Now, he insists he's done playing football with just several weeks until training camp.
The seven-time Super Bowl champion has not commented on FTX. He earned over $322 million in NFL contracts, per Spotrac.