FTX bankruptcy embroils its sports, celeb investors

Professional athletes, companies have ties to the failed crypto exchange

With cryptocurrencies plunging and cryptocurrency exchange FTX Trading filing for bankruptcy, big celebrity names that inked deals with the company — including Tom Brady, his ex-wife Gisele Bündchen and Boston Red Sox legend David Ortiz — may now find themselves passengers aboard a sinking ship.

The Chapter 11 process will include Alameda Research, West Realm Series and 130 affiliated companies, according to a Friday announcement. This all came after rival crypto exchange Binance, who briefly agreed to step in, bailed, citing red flags that came up during the due diligence process. 

Embattled CEO Sam Bankman-Fried has resigned, following a lengthy apology in a series of tweets. John J. Ray III has been appointed CEO in his stead.

The FTX website still touts professional athletes and teams as "some of the world's biggest names who trust FTX."  

With billions evaporated, it's unclear if investors, customers and backers will see any of their funds. 

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Tom Brady and Gisele Bündchen

Brady is an FTX shareholder and global ambassador. Last year, FTX said he and his former spouse would become ambassadors, with Bündchen advising FTX on "environmental and social initiatives. 

"They will each be taking an equity stake in FTX Trading Ltd as well, and we are more than happy for them to dive into the industry with their newly opened Blockfolio accounts!" FTX wrote.

The pair also filmed a commercial for FTX in 2021. 

Trevor Lawrence

Jacksonville Jaguars quarterback Trevor Lawrence — the No. 1 draft pick in the 2021 NFL Draft — signed a multiyear sponsorship contract with FTX last spring. 

The partner and ambassador received a substantial amount of the signing bonus in cryptocurrency in what FTX called a "first-of-its-kind endorsement."

Stephen Curry

Golden State Warriors star Stephen Curry is a global ambassador and a partner for marketing and philanthropic initiatives.

FTX started a long-term partnership with the NBA champion and said that Curry would receive an equity stake in FTX. 

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Curry's foundation, Eat.Learn.Play., would partner with FTX on charitable initiatives, and FTX helped facilitate Curry's first-ever NFT drop.

The "Splash Bro" also starred in an FTX ad earlier this year.

FTX also became the Warrriors' official cryptocurrency platform and NFT marketplace.

Naomi Osaka

A four-time Grand Slam singles champion and recipient of seven titles on the Women's Tennis Association Tour, Naomi Osaka is an FTX shareholder and ambassador.

In a blog post, Osaka said the tennis star wore the company's logo during her matches and would focus on bringing women onto the platform and Web3 diversity. 

Shaquille O'Neal

Four-time NBA championship winner Shaquille O'Neal is an FTX shareholder and ambassador.

He appeared — wearing a wig — in a promotional Twitter video.

Shohei Ohtani

Los Angeles Angels pitcher Shohei Ohtani entered into a long-term partnership with the star pitcher and hitter. 

"We are truly honored to be working with such an amazing athlete, and to bring him onto our cap table as an investor. We look forward to working with Shohei on bringing the FTX brand to his burgeoning fanbase, as well as on a number of charitable aspects that Shohei is particularly interested in," FTX said in a statement.

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David Ortiz

FTX said last year that retired MLB star David "Big Papi" Ortiz had signed a multiyear deal to become an ambassador. 

Udonis Haslem 

The Miami Heat's Udonis Haslem was also listed as an ambassador, joining as part of the "You in, Miami?" campaign. 

Since the announcement, some outlets have reported that several people have lost money from investments

That includes Brady and Curry.

A spokesperson for O'Neal later told FOX Business Digital that, while he had a business relationship with FTX, he has no money tied up in with the cryptocurrency exchange.

FOX Business Digital's requests for comment from Brady and Curry were not immediately returned.

The unraveling has spooked the crypto market, pushing Bitcoin prices down to the $16,000 level.

The Associated Press contributed to this report.

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