The recent downfall of the cryptocurrency exchange FTX has millions of investors worldwide left holding the bag. All-star point guard and NBA champion Stephen Curry, who also invested in FTX sometime last year, has faced massive losses on his investment so far and stands to lose more, with the company on the brink of bankruptcy.

2020 and 2021 were the years of crypto. The crypto markets experienced unprecedented growth on the back of a historic bull run. The hype around cryptos found its way to the pockets of famous personalities, including athletes. Stephen Curry, who also dipped his toes in crypto waters, invested in a cryptocurrency exchange called FTX. However, Curry’s investment led to an NBA legend making a bold declaration.

Shaquille O’Neal declared Stephen Curry a ‘Crypto expert’

Stephen Curry, 4x NBA champion and star point guard of the Golden State Warriors, has earned a fortune from his NBA salary and endorsements over the years. After signing the lifetime deal with his long-time sponsor, Under Armour, he will become the third-ever NBA player to hit the billion-dollar mark. However, his investment in FTX has been a disaster.

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Curry partnered with FTX for an undisclosed amount last year. After employing Curry as the face of their advertising campaign ‘not an expert’, FTX took the internet by storm. The campaign rested on the idea of Curry using FTX as a novice and investing in crypto carefree. It was well received by the masses and also featured the voice of Shaquille O’Neal. O’Neal declared Curry a ‘crypto expert’ in the commercial, which may have jinxed Curry’s future losses. However, the 2x MVP staying true to the campaign denied having any expertise in the field and recommended FTX. Meanwhile, Shaq also jokingly tweeted calling Curry a ‘crypto expert’ after the commercial came out.

Taking inspiration from Curry, O’Neal also joined the cause earlier this year when FTX announced a partnership and declared him an ambassador. Though, it is uncertain how much FTX spent to sign the 4x NBA champion, but it indeed must have cost them a lot. FTX also signed athletes from various other sports, including Tom Brady, Naomi Osaka, David Ortiz, Trevor Lawrence, and others. However, all the above names will take a significant hit in the coming days as FTX battles bankruptcy.

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With the crypto winter in full swing, several crypto companies worldwide have gone under with billions of dollars in losses. FTX is also feeling the effects of the global market slowdown and is on the verge of bankruptcy. The company approached industry leader Binance for a bailout but was denied the helping hand due to poor fundamentals.