FTX chapter docs present Tom Brady held over 1 million shares within the crypto alternate

Tom Brady’s weighty funding in FTX is on the verge of evaporating. New bankruptcy filings present that the Tampa Bay Buccaneers quarterback holds over 1.1 million widespread shares within the defunct cryptocurrency alternate, whereas his ex-wife and style mannequin Gisele Bündchen holds round 680,000, as reported earlier by Bloomberg and Insider.

The NFL star and his then-wife have served as model ambassadors for FTX since 2021 and even appeared in a collection of commercials for the alternate (which really haven’t aged well). According to an estimate from Forbes, Brady’s funding was valued at round $45 million, whereas Bündchen’s was price about $25 million. In its report, Insider notes, “During typical bankruptcy proceedings, only bond holders are able to recoup some of their losses, while equity investors are usually wiped out.”

Other high-profile figures listed as FTX fairness holders embody Robert Kraft, the billionaire proprietor of the New England Patriots, in addition to entrepreneur and Shark Tank star Kevin O’Leary. In December, O’Leary told CNBC that he misplaced everything of the $15 million FTX paid him to change into a spokesperson for the alternate.

The subsequent chapter listening to for FTX is going down proper now on the District of Delaware Bankruptcy Court and is streaming live on YouTube. So far, FTX recovered over $5 billion in different assets, together with money, liquid cryptocurrency, and liquid funding securities. That doesn’t embody the additional $425 million in crypto that the Securities Commission of the Bahamas is holding on to and nonetheless doesn’t make up all of what FTX clients are owed.