Tom Brady is getting flamed for his FTX industrial amid crypto firm scandal
Tampa Bay Buccaneers quarterback Tom Brady is being mocked for investing massive in FTX, a cryptocurrency firm that’s now being accused of monetary crimes.
Because the Twitter empire falls aside because of resignations, questionable terminations and a verification meme-a-thon, there’s one other swift tech scandal that has large monetary implications.
Inside per week, cryptocurrency firm FTX filed chapter 11 bankruptcy protection on Friday, with experiences indicating that the corporate doesn’t possess the funds to reimburse traders.
This intersects with the sports activities world, the place FTX has landed main partnerships that helped to solidify their popularity. The corporate received the naming rights to the Miami Warmth’s area and counts Tom Brady and Steph Curry amongst its celeb traders. In accordance with MarketWatch’s Weston Blasi, “Brady served as an envoy for the corporate and Bündchen was FTX’s Environmental & Social Initiatives Advisor.”
With Brady, who has filmed commercials for FTX and shared social media clips with FTX founder Sam Bankman-Fried, the general public discourse round Brady’s most up-to-date loss is aghast by how a lot Brady could have sunk into FTX.
For these searching for some fast perception into the crypto disaster, right here’s a 90-second clarification of the scenario.
Las September, Brady and ex-wife Gisele Bündchen starred in an FTX industrial that hasn’t aged nicely amid latest developments.
The primary time I ever heard of FTX was once I noticed the Tom Brady industrial. I have been in crypto since 2013. Brady was used to legitimize this factor that got here out of nowhere. I am betting dimes to donuts the federal government was behind this from the phrase GO.
— Digital Asset Investor (@digitalassetbuy) November 12, 2022
Tom Brady flamed on-line for shedding thousands and thousands in FTX chapter cryptocurrency scandal
With reports suggesting that the couple invested their mixed $650 million fortune into FTX earlier this 12 months, some Twitter customers are positing that Brady received’t be capable to retire after shedding thousands and thousands in a ponzi scheme.
Your entire scenario is giving Wolf of Wall Avenue vitality, and an acceptable audio clipping of Brady asking for Bankman-Fried now doubles as a meme.
The title of the corporate is FTX. It’s a leading edge excessive tech cryptocurrency trade based mostly within the Bahamas backed by Tom Brady with its billionaire CEO continuously working along with regulators in DC pic.twitter.com/TkBgRssWxg
— Nik (@nikcantmine) November 8, 2022
One monetary investor determined to depend up Brady’s losses in latest months, which now consists of the fallout of the FTX catastrophe.
Once you’re having a nasty 12 months, simply suppose…
Tom Brady divorced a supermodel in October, has a shedding file with the Bucs this 12 months, and is rumored to have simply misplaced almost his total web value within the FTX fallout.
— Danny Baldus-Strauss (@BackpackerFI) November 10, 2022
I’ll give it a attempt….
Tom Brady’s household simply misplaced an estimated $650 million funding as a result of FTX’s ponzi scheme run by one of many “Crypto Leaders” simply collapsed.
So on one hand that is fairly humorous… alternatively… it is actually humorous. https://t.co/80Bqd4Mk2F
— Chet Faliszek (@chetfaliszek) November 10, 2022
Others joke that the FTX collapse underscores a conspiracy concept that the catastrophe is the explanation Brady and Bündchen filed for divorce.
New conspiracy concept: Tom Brady and Gisele’s divorce is usually because of the collapse of FTX.
Tom reeled Gisele in on it. As advisors they came upon it’s getting ready to collapse weeks in the past. Gisele is like “wtf Tom did we simply doubtlessly lose $650m?”
— Alex Friedman 🤠 (@heyalexfriedman) November 10, 2022
Whereas it’s unknown how Brady is processing the scenario, what will be assumed is that that is precisely the type of distraction that would fracture Brady’s laser-focus earlier than dealing with the Seahawks in Munich.