American Entrepreneur Who Inspired Tom Brady Into Investing in Cryptocurrency Loses Billionaire Status After FTX Venture Ends With Shocking Buy-Out

Tom Brady is in the news again. After his recent divorce, the Buccaneers quarterback is on the brink of losing another relationship. However, this is not a personal relationship, but more of a professional one.

Last year, the Cryptocurrency exchange FTX brought in Tom Brady as a part of its sports-centric advertising model. FTX CEO Sam Bankman-Fried advertised through Brady and other sporting figures associated and eventually became a billionaire. Alas, things have gone terribly wrong for Bankman-Fried. FTX recently announced its buyout by competitor Binance. And looks like Brady is on his way out.

Is Tom Brady also losing money?

Tom Brady recently ended a 13-year marriage with his former wife, Gisele Bündchen, and was part of a hefty divorce settlement. Well, Brady’s cryptocurrency investment may not be doing so well either. Friend and FTX CEO Sam Bankman-Fried was a major influence on Brady’s investment decisions. The Crypto boss has recently lost his place in the Bloomberg Billionaire Index after rival crypto exchange Binance announced the buyout of FTX.

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FTX announced Tom Brady and Golden State Warriors champion Steph Curry as ambassadors last year. Tampa Tom invested in the company’s equity stake as a part of his brand ambassador deal. However, since then Brady’s investments in FTX have been in a net loss position. Things became worse when Binance CEO Changpeng Zhao said that his organization will be liquidating all FTT holdings and taking over rivals, FTX.

FTX token FTT prices fell by nearly 72% after the announcement and brought Sam Bankman-Field from the billionaire’s club to the millionaire’s. Bankman-Field’s net worth fell by 94% after withdrawals from FTX ceased post-buyout announcement. Brady might lose his entire strategic position, but his hit in this entire fiasco is not a public figure yet.

Brady’s rollercoaster unretirement

Tom Brady announced his retirement earlier this year, only to change his mind a few weeks later. The QB said he feels like he has a lot left in the tank. The 7x Super Bowl Champion didn’t look at his usual playing level and had the worst start to a season in twenty years.

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TB12 has, however, bounced back from the divorce settlement and led Tampa Bay Buccaneers to a comeback victory against the present Super Bowl champions LA Rams. On Sunday night, people saw the vintage Brady leading the offensive drive in the dying minutes of the game.

Tom Brady is on a 1-year $15 million deal with the Buccaneers and can surely focus on the Bucs’ comeback in the season, even with his investment misfortunes. 4-5 Tampa Bay goes to Munich next to face the 6-3 Seattle Seahawks.