Tom Brady, the quarterback for the Buccaneers, is involved in several ventures outside of sports. It’s possible he’ll soon lose one of his.
The future of FTX is questionable at the moment because of bankruptcy.
Sam Bankman-Fried, the company’s owner, has admitted that the business may soon collapse. He stated, ” I won’t claim to know what’s going on in a sector I haven’t attempted to comprehend (and probably couldn’t even if I did), but I do know this” when the CEO of any firm publicly tweets “I fucked up,” things aren’t looking good.
As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of https://t.co/FQ3MIG381f.
— Binance (@binance) November 9, 2022
Brady is completely safe from financial ruin. When he agreed to represent the company as an ambassador, he was given a share in the company. In an evident attempt to increase the worth of his fraction of the business, he also put his own brand into motion to promote FTX.
On October 15, Brady tweeted about FTX being the presenting sponsor of Brady’s “TB Times” graphic before a game in Pittsburgh that the Buccaneers lost.
To sum up, FTX had a liquidity crisis. There was a possible plan in place for Binance to save FTX. Because of the recent breakdown of that agreement, the firm is now in what may be a terminal downward spiral, and Brady may have lost all value in his stake.
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.
— CZ š¶ Binance (@cz_binance) November 8, 2022
Brady certainly won’t be bankrupt. Yet his crypto wager may soon lose its value. Because he supported and promoted a company that may soon be falling like a house of sand, his carefully crafted TB12 brand is likely to suffer as a result.
