The sports legend and supermodel were paid in crypto-shares, which lost their value last fall.
Tom Brady and Gisele Bündchen broke up late last year. PDO
A big name in American football Tom Brady and several other celebrities experienced a nasty surprise last fall when the FTX virtual currency they promoted completely lost its value.
Brady was an ambassador for the cryptocurrency and appeared in its advertisements. New York Times revealed that FTX paid Brady for this share in its own currency and the fee was estimated at $30 million. Also Brady’s wife at the time, a supermodel Gisele Bundchen was an ambassador and was paid $18 million worth of FTX stock.
As FTX became worthless, the ex-lovers’ rewards lost their value at the same time. The loss does not drive the superstars who made millions into bankruptcy, but the FTX crisis caused considerable damage to their reputation. NYT reports that FTX’s customers have sued the duo and demanded compensation from the currency’s former ambassadors for the crash of crypto.
Celebrities as advertising faces
Taylor Swift dodged a bullet and passed up the deal offered by FTX. EPA / AOP
The founder of FTX and the celebrities attracted to his business Sam Bankman-Friedia threatens up to 155 years in prison, according to the source. He is accused of, among other things, money laundering and fraud. At its peak, FTX’s empire was valued at $30 billion.
FTX’s advertising faces included several recognizable stars. In addition to those mentioned, a comedian, among others, did their part as fans of cryptocurrency Larry David and basketball players Shaquille O’Neal and Stephen Curry.
The virtual currency company was also a sponsor of the Mercedes F1 team.
One of the world’s most famous musicians Taylor Swift negotiated cooperation with FTX, but refused a hundred million dollar sponsorship deal after listening to their financial experts.