FTX Implosion Wipes Out Investments of Tom Brady, Model Gisele, and NFL Owner Robert Kraft

  • FTX’s bankruptcy led to significant financial losses for notable individuals such as Tom Brady, Gisele Bündchen, and Robert Kraft.
  • A list of FTX’s top equity holders that was released as part of the bankruptcy process, details the extent of the financial losses that investors are facing.
  • These investments, now virtually worthless, illustrate the catastrophic fall from FTX’s peak valuation of around $32 billion.

The collapse of FTX has resulted in significant financial losses for prominent investors, including the football star Tom Brady, the New England Patriots owner Robert Kraft, and the fashion model Gisele Bündchen.

This disaster serves as a reminder of the volatility and potential for wealth concentration within the crypto market, which is dominated by a small group of elite investors and Wall Street hedge funds.

Billionaire Robert Kraft, the owner of the New England Patriots NFL team, was also listed in the FTX bankruptcy document. Kraft owns over 110,000 Series B preferred shares of FTX Trading, 479,000 common shares, and about 44,000 Series A preferred shares of West Realm Shires, the company that controls FTX’s US exchange.

These more notable individuals, listed as owning millions of shares of FTX in the company’s bankruptcy documents, will likely recoup some of their losses — while regular investors will be left to bear the burden of the company’s catastrophic financial failure.

The situation has also highlighted the lack of regulations in this market and the need for more oversight to protect the public interest, and to guard against the potential for systemic risk.

Categories: Business, Economy, Tech

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