Brady has already been active in the crypto sphere, helping found a NFT startup called Autograph that made non-fungible tokens for the NFL. He was just one of many celebrities that jumped on the crypto bandwagon back in 2021, when blockchain bulls were promoting that the value of crypto would only ever go up. During that year’s superbowl, actor Matt Damon stumped for Crypto.com with his infamous “Fortune Favors the Brave” ad.
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Brady’s likely tossing a lot more than a Microsoft Surface out on the field with news of FTX going up in smoke, but it’s likely nothing compared to how the publicly calm and collected FTX founder Sam Bankman-Fried reacted to the news.
Now that it’s becoming more clear that FTX was a sandcastle built on an outgoing tide, Bankman-Fried’s $15.6 billion piggy bank could soon slip away as well. The 30-year-old billionaire had a 53% stake in his own company worth $6.2 billion and another $7.5 billion in his crypto research firm Alameda, according to Bloomberg. As of Tuesday, Bankman-Fried cannot even be found on the Bloomberg Billionaires Index, meaning the company expects the young man’s fortune to be all but wiped out, leaving him with just a measly $1 billion, a 94% loss.
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Crypto and financial analysts have already analyzed Binance CEO Chengpeng Zhao’s motivations and methods for why he’s decided to buy up his competitor. Zhao owned quite a large stake of FTT tokens after the founder split from Bankman-Fried and took a payout in crypto, according to Fortune. After dumping all those tokens over the weekend, Zhao essentially took the bottom out from the SBF’s ship, and in just a few days neither FTX nor Alameda had any real legs to stand on.