Embroiled in $32,000,000,000 FTX Disaster, Sam Bankman-Fried Reportedly Splurged $55,000,000 on Tom Brady for a Week of Work

Sam Bankman-Fried, the man who has been constantly in the headlines, especially because of the downfall of the $32,000,000,000 crypto exchange firm FTX, reportedly paid NFL legend Tom Brady an exorbitant amount of money for just a week of work.

The 7x Super Bowl champion Tom, who has faced a lot of backlash for promoting FTX, is again back in the negative headlines after Michael Lewis’ sensational remarks about one of Tom’s transactions with Bankman-Fried on CBS’ 60 Minutes. Many celebrities who invested heavily and supported FTX have been facing scrutiny from people and many have been named in a massive lawsuit filed on behalf of the American consumers.

SBF Once Splurged $55,000,000 on Tom Brady for Just 20 Hours of Work

Brady, along with his ex-wife Giselle and other sporting icons like Shaquille O’Neal and Stephen Curry, has now been named in the class action lawsuit by investors. But before the collapse of FTX, “Bankman-Fried paid Tom Brady $55,000,000 for 20 hours a year for three years for a minimal amount of work.” says Michael Lewis on CBS 60 Minutes.

The plaintiffs of the lawsuit want Brady and other celebs to pay billions for their role. They seek a return of their money. The lawsuit accuses Tom of “colluding with and promoting” FTX and unregistered securities.

 

Bankman-Fried turned to the sports world to bring his FTX crypto exchange legitimacy and visibility. Author Michael Lewis says he saw internal documents that showed the tens of millions paid to Tom Brady and Steph Curry, and for a Superbowl ad, Larry David. pic.twitter.com/Fx6qfhrdPJ

— 60 Minutes (@60Minutes) October 1, 2023

Lewis talks about Brady and Bankman’s relationship and says-

“Now Tom feels tricked and angry. He doesn’t want to have anything to do with FTX anymore. But before the whole saga, Tom adored and liked him. Brady thought he was an interesting person. And Bankman doesn’t have much interest in sports like Tom. He describes the relationship as that of a class nerd and the quarterback.”

FTX collapsed on the 17th of November 2022 after Sam Bankman’s resignation as CEO of FTX. He got arrested a month later for allegedly duping investors of $1,800,000,000.

Tom and His Ex-Wife Lost $48,000,000 in the FTX Collapse and Paid Considerably for Their Misplaced Trust

The collapse of Bankman’s $32, 000,000,000 Empire and his fall from grace had a domino effect. The Collapse of FTX put a dent in the net worth of both Brady and his now ex-wife Giselle Bundchen.

Brady who endorsed the FTX, also invested heavily in the FTX. Tom Brady, whose net worth stands somewhere between $270-300 million, lost a whopping $30,000,000 when FTX went down, as reported by the New York Times.

Giselle who also endorsed FTX alongside Tom lost $18,000,000 of her own money. She is also a defendant in the lawsuit for her involvement with FTX. Reportedly, both, Tom and Gisele had received stock options, in exchange for their huge investments in the crypto giant. As the world knows, those stocks are not even worth pennies at the moment.

 

Report: Tom Brady and Gisele lost an astonishing $48 million in the FTX cryptocurrency crash last year.

Tom Brady had invested a staggering $30 million into FTX, while his then-wife had contributed $18 million from her wealth.

In exchange for their investments, Tom… pic.twitter.com/OdpH8CmXYB

— Dov Kleiman (@NFL_DovKleiman) July 6, 2023

FTX’s collapse left a stain on the reputation of the star QB and a dent in Brady’s finances.