Tom Brady just turned the page on a very stormy chapter of his life. And the Tampa Bay star is just returning to his former on-field greatness after ending a 13-year marriage with the former Brazilian supermodel wife, Gisele Bündchen. The last thing TB12 needs right now is another major distraction during the season. However, Brady had a close escape in the FTX collapse controversy.

Tom Brady didn’t anticipate the lawsuit drama surrounding Sam Bankman-Fried and his FTX crypto business crumbling down. Brady was one of the many athlete ambassadors who came on board during FTX’s promotional phase. Other notable sporting figures include Naomi Osaka and the entire Golden State Warriors NBA franchise, including Steph Curry. And lead plaintiff Edwin Garrison filed the class action lawsuit accusing FTX of laundering customer funds.

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The suit labeled FTX as a “house of cards, a Ponzi scheme where the FTX entities shuffled customer funds between their opaque affiliated entities.” However, Garrison’s lawyers withdrew the case after filing a voluntary dismissal notice with the U.S. District Court for the Southern District of Florida. QB legend Tom Brady can only feel relief after hearing this uplifting news.

What happened with FTX that led to this close call for Tom Brady?

The world’s 15 largest cryptocurrencies lost an estimated total of $152 billion in a matter of 3 days. And this was all because of Sam Bankman-Fried’s FTT token currency in his crypto exchange platform FTX. When the token value crashed by 80% on November 6 this year, the hemorrhaging of the crypto market was foreseeable. And the next 72 hours proved just that.

Tampa Bay Buccaneers QB Tom Brady had also financially checked in heavily in his contract with FTX, which included equity options. And with this major shock to the cryptocurrency market, Brady’s and Bündchen’s pre-divorce investment took a hit. The former power couple featured in multiple commercials for SBF’s brainchild FTX and could have taken a centre stage if the lawsuit went through. Especially since the Wall Street Journal reported that FTX used customer funds to set up risky bets that eventually led to its downfall.

Tom Brady can put this episode in the rearview as he prepares for his eighth Super Bowl championship ring this year with the Tampa Bay Buccaneers. Up next, Brady and the Bucs face the formidable San Francisco 49ers.

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