Cryptocurrency

Tom Brady, Gisele Bündchen’s investment in FTX at risk following collapse

Following recent developments leading to Binance’s planned acquisition of FTX and subsequent deal, Tom Brady and Gisele Bündchen’s investment in FTX in 2021 is at risk as the exchange faces bankruptcy. Yes, CoinDesk reported.

June 2021, bloomberg news Brady and Bundchen stock holding At FTX as part of a long-term partnership.

The deal gives Brady the role of Ambassador for FTX and Bündchen the role of Advisor to Environmental and Social Initiatives. The stake and financial terms were not disclosed.

Brady and Bündchen have a combined net worth of approximately $650 million. celebrity net worth.

Collapse of FTX

Binance CEO Changpeng “CZ” has revealed that Binance is liquidating all FTT tokens remaining on its books, raising speculation and concerns about FTX’s solvency. CZ said Binance will gradually liquidate his FTT, citing lessons learned from the Terra Luna collapse, describing the move as post-termination risk management.

FTX Exchange CEO Sam Bankman-Fried “SBF” has confirmed rumors that FTX is having trouble processing outstanding withdrawals. Assets are fine. All non-fiat customer withdrawals have stopped, revealing a deteriorating situation for the company.

Binance CEO Changpeng Zhao tweeted that FTX turned to exchanges for help as it was struggling with liquidity. CZ said it has signed a non-binding agreement that Binance will acquire the company in the coming days.

Late on November 9th, Binance decided not to pursue the option to buy FTX after it reported that due diligence revealed mishandling of customer funds and a US agency was investigating the exchange. Announced.

Due to the near collapse of FTX, SBF’s net worth, originally estimated at $15.2 million before the GTX collapse, also fell by nearly 94% to $99.15 million. token. He also lost his millionaire status overnight after the event.

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