One of the stars affected by the effects of the bitcoin crisis is the legendary quarterback. Some, like Taylor Swift, managed to flee. One of the stars affected by the effects of the bitcoin crisis is the legendary quarterback. Some, like Taylor Swift, managed to flee. Last November, Tom Brady, the seven-time Super Bowl champion quarterback, made a critical phone call as the FTX bitcoin exchange collapsed.
He gave FTX’s head of partnerships, Sina Nader, a call. The staff of the exchange was having a crisis meeting with its troubled founder, Sam Bankman-Fried. Mr. Nader was unable to respond. He stated, “I never would have anticipated to turn down a call from Tom Brady. Mr. Brady had good reason to worry. He had participated in TV advertisements at the company’s conference in the Bahamas as a “ambassador” for FTX, promoting the exchange as “the most trusted” organization in the loosely regulated cryptocurrency industry.
His cash was also on the line. Three people with knowledge of the pact said that as part of an endorsement agreement Mr. Brady signed in 2021, FTX had paid him $30 million, a sum that was almost completely made up of FTX shares. Supermodel Gisele Bündchen, who was Mr. Brady’s wife at the time, reportedly received $18 million in FTX shares, according to one of the persons.
Now that FTX has filed for bankruptcy, Mr. Bankman-Fried is being accused of criminal fraud. A group of FTX clients has filed a lawsuit against Mr. Brady, 45, and Ms. Bündchen, 42, demanding money from the famous people who supported the exchange. In addition, according to two persons familiar with the endorsement agreement, the former couple, who separated last year, would have been obligated to pay taxes on at least some of their now worthless FTX stock.