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Tom Brady, Shohei Ohtani amongst largest losers in FTX collapse

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Buccaneers quarterback Tom Brady and Angels two-way star Shohei Ohtani are amongst distinguished skilled athletes taking important losses within the collapse of cryptocurrency market FTX.

Brady and ex-wife, Gisele Bundchen, every took majority stakes within the firm in September, and touted FTX in a sequence of commercials and inspired friends to be a part of the crypto craze.

“It’s an incredibly exciting time in the crypto-world and Sam and the revolutionary FTX team continue to open my eyes to the endless possibilities,” Brady stated in 2021. “This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet. We have the chance to create something really special here, and I can’t wait to see what we’re able to do together.”

Major League Baseball umpires wore the FTX brand patch on shirts and jackets throughout video games.

Ex-FTX CEO Sam Bankman-Fried misplaced his total $16 billion fortune when the corporate filed for Chapter 11 chapter final week.

Late final week, bitcoin costs had been at their lowest stage in two years and one other common crypto stock, Ethereum, was on a speedy decline.

FTX listed Bundchen as environmental and social initiatives advisor till lately.

Other sports activities and stars had been deeply impacted, Barron’s and Marketwatch reported.

With naming rights to the previous American Airlines area, dwelling to the Miami Heat, and a $10 million sponsorship with the Golden State Warriors and Chase Center in San Francisco, FTX was a distinguished identify within the NBA. Steph Curry was a stakeholder and a number of NBA2K groups had been sponsored by FTX.

Miami-Dade County and the Heat introduced Friday they had been on the lookout for a brand new naming rights associate for the world.

Ohtani took his full stake as an envoy in stock, firm fairness and cryptocurrency, and comparable contracts existed for tennis star Naomi Osaka and Jacksonville Jaguars quarterback Trevor Lawrence.

–Field Level Media

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