Tom Brady Could Lose Entire Investment After FTX Debacle
The past few months have not been kind to future Hall of Fame Tampa Bay Buccaneers quarterback Tom Brady.
After coming out of retirement to rejoin the Bucs, the team has stumbled to a disappointing 4-5 record. Somehow that's still good enough for a first place tie in the NFC South, but nowhere near expectations.
Then confirmation came that he would be splitting with longtime wife Gisele Bündchen.
READ: BUCS’ TOM BRADY PUBLICLY ADDRESSES DIVORCE TO GISELE BÜNDCHEN, STAYING RESILIENT THROUGH BAD TIMES
Now Brady is facing yet another blow.
In the summer of 2021, Brady and Gisele signed an equity deal with cryptocurrency exchange FTX. On top of their partnership, the couple apparently invested a significant amount of their personal funds.
With crypto riding high, it seemed like a strategic investment with immense potential.
That did not age well.
FTX recently suffered a liquidity crunch, and as a result the value of its tokens collapsed overnight. Collapse might be an understatement, as the drop exceeded 80% in just one day.
Tampa Bay Buccaneers quarterback Tom Brady on the field during a recent NFL game. Brady's investment in the cryptocurrency exchange FTX has lost the majority of its value.
Even with the hope of a potential buyout by Binance, losses have continued.
Brady's Losses Could be Massive
There's no clear indication of exactly how much money Brady put into FTX, but rumors have put the figure into the hundreds of millions.
That may not be likely, but it's sure to be an eye-popping number regardless.
Crypto has always had some level of uncertainty, although huge gains in 2020 and into 2021 created some seeming stability.
Many of the major platforms and currencies have become household names. But the FTX collapse shows that there's still substantial risk involved.
With some personal setbacks, on-field failures and now huge financial hits, 2022 has not been Brady's best year.
There's still time to recover for the Bucs, but almost certainly not for FTX.