“Got sucked into a MAJOR FRAUD”: Tom Brady and Gisele Bündchen ridiculed on social media for promoting and MISLEADING followers through FTX

“Got sucked into a MAJOR FRAUD”: Tom Brady and Gisele Bündchen ridiculed on social media for promoting and MISLEADING followers through FTX

Tom Brady and Gisele Bündchen in happier days.

Never take financial or investment advice from celebrities. This particular statement has been proven to be right yet again as the popular cryptocurrency exchange, FTX was forced to declare bankruptcy in a year where blockchain-enabled currencies such as Bitcoin and other currencies have offered negative or dismal returns.

FTX, formerly led by Sam Bankman-Fried, got itself into a massive cash crunch and the firm was attempting to raise liquidity but could not do so successfully. The popular platform was considered one of the most valuable crypto platforms in the world, as it was worth nearly $34 billion at its peak.

FTX gained traction by using prominent celebrities to promote the platform. Tom Brady and Gisele Bündchen are two individuals who pushed hard for individuals interested and trading in crypto to use FTX as the platform of choice. The recently divorced couple shot many advertisements encouraging their friends and fans to use FTX last September.

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Also Read: “Now we know why she left”: Tom Brady risks losing millions following the bankruptcy of Crypto firm FTX

Tom Brady and Gisele Bundchen co-starred in FTX’s $20 million ad campaign:

Tom Brady decided to come out of retirement
Tom Brady

FTX spent billions on celebs such as the Tampa Bay Buccaneers QB, Gisele, Stephen Curry, Naomi Osaka, Shohei Ohtani, and Aaron Jones. Here’s where it gets interesting. FTX paid most of the celebrities for promoting their brand by offering them equity as opposed to a lump sum payment. It is unclear how much Brady stands to lose from this, but the figure is likely in the six-figure range.

 Here’s how fans reacted to the news of Brady’s crypto fortune turning essentially worthless:

And that Tom Brady is not the best person to take financial advice from.

If all Tom held was equity in the company, it is not that big a deal, but if he had money invested into it, then it is a problem.

That’s going to be an awkward conversation…

Do not invest in assets you do not understand. No matter who is promoting it.

https://twitter.com/GallosHumor/status/1591142762421723136?s=20&t=GDdDalxSUhYstrj1-kv58w

Fair point.

Don’t know about everything but all Tom seems to be doing lately is loose.

UPDATE: The numbers are out, Tom Brady and Gisele paid heavily for their association with FTX.

Tom Brady and Gisele will be just fine. While they may have had financial interests in crypto, their portfolios are diverse. So even if they did incur losses ranging in the millions in one sector, they are likely to write those losses off from their returns from other avenues.

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