When you think of Tom Brady, chances are, you think of him on the football field.
A seven-time NFL Super Bowl champion, Brady’s presence has overtaken living rooms across the country, and many fans have followed him closely.
Recently, however, Brady has been in the news for a non-football-related issue.
According to court documents, Tom Brady is among FTX's largest individual equity shareholders — with more than 1.1 million common shares.
Gisele Bündchen has more than 686,000.
— Front Office Sports (@FOS) January 12, 2023
To unpack this story, we first need to understand the context behind it.
FTX is a crypto-currency company that has recently gone bankrupt due to the ever-changing nature of the market and organizational malpractice.
Although crypto is something that has been a fad in the past several years, it has been on the downturn in the last several months, resulting in the demise of companies like FTX.
Brady was one of the company’s leading shareholders and is now being affected in a huge way, given that he had over a million shares invested in the company.
What’s next for Brady and the rest of the crypto shareholders, particularly those with FTX shares, is unknown at this time.
We do know that FTX has gone bankrupt, but further details have not been revealed.
This is unprecedented territory given how new and unknown crypto has been over the past several months.
Crypto and Bitcoin are two hot-button topics, the latter has affected one of Brady’s fellow NFL players, Odell Beckham Jr.
A few years ago, Beckham took part of his salary in Bitcoin, which ended up losing him monetary capital in the long run.
Stay tuned for more updates on this ever-changing and ever-evolving situation.