Tom Brady and Gisele Bündchen spent over $84 million buying 1.8 million shares in Sam Bankman-Fried's crypto empire after their team found no issues with 'what they believed were legit financials.'
Former NFL star Tom Brady saw his entire stake in FTX wiped out when the crypto exchange filed for bankruptcy in November.Tom Brady and Gisele Bündchen's advisors"saw what they believed were legit financials" when they invested in FTX, per the Financial Times.But they lost millions of dollars when Sam Bankman-Fried's crypto empire collapsed in November.
Advisors to Tom Brady and Gisele Bündchen weren't able to spot any issues with FTX's underlying financials before the celebrity couple piled cash into the now-bankrupt crypto exchange, theThe then-couple spent over $84 million buying 1.8 million shares in Sam Bankman-Fried's crypto empire after their team found no issues with its financial documentation, according to the report Tuesday.
Brady and Bündchen's team were extremely diligent and"saw what they believed were legit financials," an unidentified former FTX employee told the FT.FTX filed for bankruptcy in November after reported that its sister trading firm Alameda Research held most of its portfolio in the exchange's native FTT token.
Rival firm Binance responded by selling all of its FTT holdings, triggering a solvency crisis that eventually forced FTX to file for bankruptcy. The following month, founder Bankman-Fried was arrested in the Bahamas and extradited to the US. Prosecutors say that he knowingly used
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robinhood Board Authorizes Purchase of Shares Bought by FTX’s Sam Bankman-Fried, Gary WangRobinhood’s board of directors authorized the company to pursue purchasing most or all of the 55 million shares that a holding company for former FTX execs Sam Bankman-Fried and Gary Wang bought in May 2022. By NelWang
Read more »
FTX gets court approval to subpoena Sam Bankman-Fried, insidersA judge approved FTX’s request to issue subpoenas to Bankman-Fried, his parents Barbara Fried, Caroline Ellison and others.
Read more »
Robinhood cleared to buy FTX founder Sam Bankman-Fried's stock, sending shares higherRobinhood reported Q4 results that missed expectations, but the company's co-founders said they canceled nearly $500 million in share-based compensation.
Read more »
Robinhood board approves plan to buy back Sam Bankman-Fried's $578 million stakeRobinhood will work with the Department of Justice to purchase Sam Bankman-Fried's shares, which amount to 7% of the company.
Read more »
Robinhood plans to buy back shares from Sam Bankman-Fried entityRobinhood announced Wednesday it plans to buy back shares from Sam Bankman-Fried's Emergent Fidelity Technologies, the stock trading company announced Wednesday.
Read more »
Robinhood board gives nod to buy Sam Bankman-Fried's $578M stakeRobinhood is set to buy back 55 million shares from Emergent Fidelity Technologies — a holding company owned by former FTX execs Sam Bankman-Fried and Gary Wang.
Read more »