Tom Brady and his wife, Giselle Bundchen invested in a Crypto named FTX to maximize their combined wealth of over $650 million.
Sportingnews reports that the Buccaneers quarterback and Gisele did the investment after they formed a relationship with the company’s CEO Sam Bankman-Fried in 2021.
Brady and Bundchen appeared in commercials for the organization, which was already struggling due to rival Binance’s announcement on Wednesday that it would not proceed with an acquisition of FTX after conducting “due diligence.” The value of FTX rose from $89 million to $1 billion in 2021.
The couple’s investment in cryptocurrency was a sign of the times. They took advantage of the stream of assurances that the cryptocurrency exchange was reliable and secure.
They entered the market early, first announcing a collaboration with Bankman-cryptocurrency Fried’s offspring in 2020, then deciding to sign an endorsement contract with FTX in 2021. They received shares in FTX and a signing bonus paid in cryptocurrency as part of the agreement.
Moreover, The agreement said that FTX would make annual donations of millions to charity on behalf of Brady and Bundchen, which made the deal even more enticing.
Tom Brady FTX Deal Breakdown For The $650 Million Worth Investment
Tom Brady and Gisele made significant investments in the FTX cryptocurrency with their $650 million fortune.
FTX is a cryptocurrency based in the Bahamas, exchanged by over a million people until February 2022. Likewise, FTX operates FTX.US, a separate sale available to US residents.
While the pair did not reveal the exact investment to the company, they have indeed spent a considerable amount.
In exchange for an amount of Cryptocurrency, Brady has hired as an exchange ambassador, and Bündchen served as FTX’s environmental and social efforts advisor.
The long-term cooperation with Bankman-exchange Fried’s company and their financial details are kept private. Meanwhile, Blockfolio, a subsidiary of FTX, is also included in the package.
According to the announcement from FTX, “they have set up their Blockfolio accounts to invest in and trade cryptocurrencies of their choice.”
As an ambassador, the Tampa Bay Buccaneers quarterback has significantly impacted the promotion of FTX, mainly his flamethrower stunt.
The seven-time Super Bowl champion quarterback melted a block of ice containing a Bitcoin with the flamethrower in a recent Twitter promo for the cryptocurrency exchange FTX.
He explained that mining bitcoins are not done in such ways and they definitely won’t need a flamethrower. Tom never disappoints his fans with his unique and catchy advertisements. He also did another ad for T-mobile, a 5g company, which all his supporters appreciated.
Tom Brady And Gisele Bundchen’s Net Worth & FTX crypto
Tom Brady and Gisele Bundchen have a combined net worth of more than $650 million; the NFL icon has $200 million, and the Brazilian model enjoys a fortune of $400 million.
Their new investment in Crypto and other businesses surely helps them earn a considerable sum.
Gisele has amassed significant wealth, but no one should be surprised by her earnings. In 2016, Forbes declared her the highest-paid model in the world for the fourteenth consecutive year, surpassing competitors including Kendall Jenner and Gigi Hadid.
Bündchen’s multimillion-dollar contracts with firms like Pantene, Chanel, Victoria’s Secret, and Carolina Herrera, as well as collaborations with brands like Arezzo shoes and SkyTV in her home country of Brazil, are undoubtedly the source of her wealth.
Similarly, the Tampa Bay Buccaneers player has a net worth of $200 million with an annual salary of $30 million. He earned more than $59 million from NFT last year.
In addition, Sportrac mentioned that Tom Brady agreed to a one-year contract with the Tampa Bay Buccaneers worth $15,000,000. It paid him an average annual salary of $15,000,000 and included a $15,000,000 guarantee. As a result, Brady will make $1,120,000 in base pay, $28,880,000 in signing bonus, $11,896,000 in cap hit, and $47,000,000 in final cap value in 2022.
Finally, the couple’s investment will affect their economic status and net worth. Although they have yet to make their investments in FTX public, the crypto industry is not in good shape after the recent market crash.
Investors in FTX and holders of the FTT token have had a tough week due to the extraordinary series of events that resulted in rival Binance preparing to acquire the exchange. A billionaire business tycoon, Bankman-Fried, did Brady’s introduction to cryptocurrency, but since then, his net worth has collapsed by 94% to $991.5 million, knocking him off the Bloomberg Billionaires index.
Crypto has had a difficult 2022. The asset class is now valued at less than $1 trillion. It came down from an all-time high of more than $3 trillion in November.
According to crypto analytics company Arcane Research, Bitcoin specifically, which accounts for around 42% of the cryptocurrency industry, experienced its most significant quarterly decline since 2011, with a 56% decline in the second quarter.
Tom Brady Risks Losing Entire Investment After The FTX Collapse
Tom Brady and his ex-wife Gisele Bundchen are worried after the collapse of the cryptocurrency exchange FTX in 2022.
FTX just witnessed more than $6 billion in withdrawals in the 72 hours up until Tuesday, and the market value of the exchange collapsed by 70 percent this week as concerns about its financial health mounted.
Sam Bankman-Fried, the company’s CEO, lost an estimated $14.6 billion overnight, or 94 percent of his net worth, following FTX’s bailout agreement with competitor Binance as per Bloomberg.
Brady stated in a press statement at the time, “It’s a tremendously exciting time in the crypto-world, and Sam and the revolutionary FTX team continue to open my eyes to the unlimited possibilities.”