NFL icon Tom Brady and his ex-wife Gisele Bundchen lost '$48million' when company collapsed last year
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NFL icon Tom Brady and his ex-wife Gisele Bundchen lost a staggering sum of money when the cryptocurrency company they invested in collapsed last year.
Former New England Patriots and Tampa Bay Buccaneers quarterback Brady and supermodel Bundchen were both high-profile investors in crypto company FTX, which collapsed in November.
Seven-time Super Bowl winner Brady in particular was closely tied with FTX, having agreed to partner with the company in 2021.
He become a major investor and appeared in various commercials promoting the company.
It initially appeared to be a wise investment from the NFL legend, with FTX at one point valued at $32bn (£24.7bn).
But it all came crashing down in November of last year when the company unexpectedly collapsed, leaving celebrities and ordinary investors out of pocket.
FTX chief executive Sam Bankman-Fried was arrested in the Bahamas one month later and extradited to the United States.
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He was later indicted on eight criminal charges including wire fraud and conspiracy by misusing customer funds and could face up to 115 years in prison if convicted on all eight counts, according to CNN.
According to The New York Times (via Sportico), Brady - one of the most notable celebrities to back the crypto exchange – lost around $30m (£23.2m) in FTX stock once the company faltered.
Brazilian model Bundchen lost $18m (£14m), with the pair collectively losing around $48m (£37.2m). In October, they announced that they had divorced after 13 years of marriage.
Other celebrities to lose money backing the failed crypto firm reportedly include Shaquille O'Neal, Kim Kardashian and Lindsay Lohan.
According to Sportico, both Brady and Bundchen are being sued by FTX customers who chose to invest because of the pair's support for the company.
Bundchen told Vanity Fair in March that she had "trusted the hype" and felt "blindsided" by the company's collapse.
Brady has not commented publicly on FTX or his relationship with its founder, Bankman-Fried, according to The New York Times.
SPORTbible has contacted Brady’s representatives for comment.
