Naomi Osaka suffers massive financial loss as all of her FTX assets declared worthless following the cryptocurrency’s huge crash

Naomi Osaka, the 4-time Grand Slam champion and former World No. 1 is one of the many athletes to have suffered big financial losses. The Japanese is one of the many athletes associated with FTX, the cryptocurrency that had a massive crash in the market affecting all of its holders.

For those uninitiated, the market value of FTX suffered a huge crash of nearly 70%. FTX CEO Sam Bankman-Fried has already filed for bankruptcy following the enormous drop. Not only did he declare bankruptcy, but he also issued a public apology admitting that he “F***ed up” as he stepped down as the CEO.

For context, the reason for the crash is linked to a recent leak. The leak brought out documents that saw Alameda Research. A hedge fund co-owned by FTX CEO was all but insolvent. Following the links between the two, withdrawals of nearly $5 billion were made in the last week, that over the last few days have resulted in the crash for the cryptocurrency.

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Naomi Osaka’s association with FTX

Osaka has remained one of the most popular athletes ever since she won her first major at the 2018 US Open. While Osaka has practically grown up in the USA, she still chose to represent Japan when she turned Pro and that has led to only the rise in her popularity.

Despite her failure to defend the Australian Open this year, there was no dip in her stardom. Having come out with her mental health troubles in the 2021 season, Osaka has been sympathized with and lauded for being brave enough to discuss her mental battles in public.

Osaka signed the deal with FTX in March 2022 while she was in the USA for the Indian Wells and Miami Open. While she was subjected to heckling in Indian Wells and regrouping herself to deal with it, off the court, she formed her association with FTX.

Osaka brought in an equity stake in FTX and was supposed to receive the compensation in crypto. Apart from this, Osaka was also supposed to be the ambassador to bring in more women, as she is a big role model figure. Osaka’s deal also included making content to promote the cryptocurrency.

At the time of writing, the numbers are not yet officially out on the loss Osaka has suffered. However, with the 4-time major winner being one of the highest-paid athletes in the world, it would definitely be an extensive amount ranging in a whooping multi-millions.

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