{"id":16324,"date":"2023-01-11T08:10:29","date_gmt":"2023-01-11T08:10:29","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/tom-brady-left-holding-the-bag-after-ftx-collapse\/"},"modified":"2023-01-11T08:10:29","modified_gmt":"2023-01-11T08:10:29","slug":"tom-brady-left-holding-the-bag-after-ftx-collapse","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/tom-brady-left-holding-the-bag-after-ftx-collapse\/","title":{"rendered":"Tom Brady left holding the bag after FTX collapse"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1672653256022-55e25eb8-e641-48aa-8c21-9204d58447bf-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1672653256022-55e25eb8-e641-48aa-8c21-9204d58447bf-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1672653256022-55e25eb8-e641-48aa-8c21-9204d58447bf-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1672653256022-55e25eb8-e641-48aa-8c21-9204d58447bf-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>Brady held 1.1 million shares in Sam Bankman-Fried\u2019s business\u00a0<\/li>\n<li>His ex-wife Gisele Bunchen has 680k shares <\/li>\n<li>New FTX CEO John J. Ray III says no one is likely to recover losses<\/li>\n<\/ul>\n<p>Some of the most famous people in US sports and people like Paul Tudor Jones and Peter Thiele are among those facing the consequences of the collapse of crypto trading platform FTX Group.\u00a0<\/p>\n<h2>Brady and Bob Kraft held substantial stakes in SBF\u2019s business\u00a0<\/h2>\n<p>Star NFL quarterback Tom Brady and New England Patriots owner and billionaire Robert Kraft held substantial shares in Sam Bankman-Fried\u2019s business. Su Keenan <a href=\"https:\/\/www.youtube.com\/watch?v=Wgy-G-aZdmY\">reports<\/a> on Bloomberg Television.\u00a0<\/p>\n<h2>It wasn\u2019t clear how Brady was paid\u00a0<\/h2>\n<p>Su Keenan reports that it wasn\u2019t clear how Tom Brady was paid in shares of the company, but nonetheless, he is an FTX creditor according to court documents. The star quarterback, who\u2019s currently playing with the Tampa Bay Buccaneers, joins the club of those unlikely to get their money back.\u00a0<\/p>\n<p>This is a disappointing development. FTX was even among the crypto companies that <a href=\"https:\/\/coinjournal.net\/news\/crypto-exchange-ftx-buys-slot-to-advertise-during-the-super-bowl\/\">bought an advertising slot<\/a> during the Super Bowl.\u00a0<\/p>\n<h2>The other losers\u00a0<\/h2>\n<p>Patriots owner and billionaire Robert Kraft owns significant shares in several FTX-related entities. Brady owns more than 1.1 million common shares of FTX Trading. His ex-wife Gisele Bunchen has 680,000 shares.<\/p>\n<h2>No one is likely to recover losses\u00a0<\/h2>\n<p>They join the ranks of luminaries like Paul Tudor Jones and Peter Thiele in holding the bag on some of these shares, whose value is assumed to be nonexistent. FTX is now bankrupt and the new CEO, John J. Ray III, says it\u2019s not likely anyone will recover losses.<\/p>\n<h2>The noose tightens\u00a0<\/h2>\n<p>Sam Bankman-Fried faces trial in October. Two people in his former inner circle, Caroline Ellison and Gary Wang, are cooperating with prosecutors. A third witness may be in the works \u2013 FTX former engineering chief <a href=\"https:\/\/coinjournal.net\/news\/prosecutors-ramp-up-pressure-on-sbf-associate-nishad-singh\/\">Nishad Singh<\/a>, who was reported to be looking for a deal.\u00a0<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bloomberg-tom-brady-peter-thiele-left-holding-the-bag-after-ftx-collapse\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Brady held 1.1 million shares in Sam Bankman-Fried\u2019s business\u00a0 His ex-wife Gisele Bunchen has 680k shares New FTX CEO John J. Ray III says no one is likely to recover losses Some of the most famous people in US sports and people like [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":16038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16324"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16324"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16324\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16038"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}