Tom Brady lost out on $105 million Bitcoin fortune after $30m crypto payment blunder
Retired NFL quarterback Tom Brady lost out on a whopping $105 million Bitcoin fortune after a $30m crypto payment blunder.
This comes as the New York Times reported that cryptocurrency firm FTX had collapsed.
Brady served as an ambassador for the company, which in return he received $30 million worth of stock.
However, it looks like this is now worthless after FTX filed for bankruptcy.
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Before its collapse, FTX was valued at $32 billion, which included $48 million in shares held by Brady and his former wife, Gisele Bundchen.
Tom Brady's investment is now valued at nothing
This is now worthless but had Brady cashed in on his stocks when he could and invest in Bitcoin, he would now be sitting on a $105 million crypto fortune.
Now though, Brady and Bundchen are being sued by investors of FTX who are seeking repayment from celebrity endorsers.
In the lawsuit filed in federal court in Florida, which was obtained by the Times, it said: âNone of these defendants performed any due diligence prior to marketing these FTX products to the public.â
Brady was ranked at number 50 in the 2023 Forbes list of the highest-paid athletes in the world, earning $45.2 million from his football salary and endorsements.
In other crypto news, 50 Centâs Bitcoin fortune has hit a record amount after he forgot that he had an extra stash of cryptocurrency.
The rapper has been investing in cryptocurrency for the last decade after he reportedly made the decision back in 2014 to receive a payment of Bitcoin when selling his album âAnimal Ambitionâ.
At the time, the move was thought of as bizarre but it looks like it has quite literally paid off.
In total, 50 Cent earned 700 Bitcoin from the sale which, at the time, worked out to around $455,000.
And while thatâs an amount many wouldnât be able to forget in a hurry, for a man that is worth over $40 million, he pushed it to the back of his mind.
Over the years, cryptocurrency has continued to climb in value and now sits at over $100,000 per coin - 10 times that of its 2018 value and nearly 1,600 times more expensive compared to when people handed the coin over in 2014.
At the time of writing, the exact value of Bitcoin is $109,078.99, so this across 700 coins would total an overall fortune of $76,355,293.