ST Alpha - ""Report: Tom Brady lost $30M in collapse of crypto giant FTX"" (Reading a Post)

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"Report: Tom Brady lost $30M in collapse of crypto giant FTX"

Posted by David (aka David) Jul 7 '23, 11:57

This strikes me as a bit misleading. Here's the larger story:

"Tom Brady lost millions in the collapse of cryptocurrency company FTX, for which he served as an "ambassador,' The New York Times reported Friday.

Under an agreement the retired NFL quarterback made with FTX in 2021, he received $30 million in now-worthless stock for his work pitching the company in television ads and at its conference. In step with him at the time was his then-wife, Gisele Bundchen, who received $18 million in stock, per the report."

So, they gave him $30 million in stock that's worthless now unless he sold, but he's not out anything per see (as far as I can tell).

Responses:

I thought he was on the hook for penalties whatever for the endorsement -- nm - zeitgeist Jul 7, 13:16
Is FTX the one Matt Damon did commercials for? -- nm - Jovian Jul 7, 12:38 2
- i think that was Crypto. -- nm - Andie Jul 7, 12:39 1
  - ahh thanks -- nm - Jovian Jul 7, 12:40
he needs Trumps accounting team to make the loss 'profitable' on his taxes. -- nm - Peglegpete Jul 7, 12:32
He lost the 30M "worth" they gave him. -- nm - Spawn Jul 7, 12:00 4
- [nods] -- nm - mud Jul 7, 12:01 3
  - He should have taken the, "... or $100 cash" option. -- nm - Spawn Jul 7, 12:12 2
    - Or at least changed doors. It's the winning strategery -- nm - Bari Seldon Jul 7, 12:15
    - heh -- nm - mud Jul 7, 12:12
Chump change to him -- nm - eag Jul 7, 11:59
i mean, he's dumb enough to have also bought the stuff -- nm - hollywood big shot Jul 7, 11:59

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"Report: Tom Brady lost $30M in collapse of crypto giant FTX"

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