- Tom Brady was a leading ambassador for FTX, the now-bankrupt cryptocurrency exchange.
- The seven-time Super Bowl champion reportedly lost $30 million when the company went under.
Tom Brady wasn't used to losing during his illustrious NFL career.
But the seven-time Super Bowl champion has taken a major public loss off the field. Brady, a leading ambassador for cryptocurrency exchange FTX, reportedly lost a whopping $30 million when Sam Bankman-Fried's company went bankrupt late last year.
According to The New York Times, the superstar quarterback's multi-million-dollar compensation package for appearing in FTX commercials and otherwise promoting the brand consisted "almost entirely of FTX stock." Such holdings are now essentially worthless.
And there may be more hits to come for the retired legend.
Brady is among a handful of celebrity defendants — including Larry David, Shaquille O'Neal, "Shark Tank's" Kevin O'Leary, Steph Curry, and others — in a class-action lawsuit filed by aggrieved FTX customers. The investors argue that the big names who promoted the brand "made numerous misrepresentations and omissions ... in order to induce confidence and to drive consumers to invest in what was ultimately a Ponzi scheme."
Plus, as The Times reports, the ex-Tampa Bay Buccaneer's endorsement deal required he pay taxes on his now-defunct FTX stock.
Brady's crypto woes don't end there. The three-time NFL Most Valuable Player co-founded NFT startup Autograph, which has struggled in the wake of the crypto crash and slashed nearly a third of its workforce in May, Insider reported.
But Brady is more than likely doing just fine on the financial front. He earned more than $300 million just from his NFL salaries over 23 years in the league, and he made even more from endorsement deals and off-the-field investments.
Plus, he signed a massive 10-year, $375 million contract to make his debut in the broadcast booth as a Fox Sports analyst.