The collapse of the FTX cryptocurrency exchange last November left many investors empty-handed. Among them are not only large institutional investors, but also a large number of individuals, famous athletes, TV presenters and other popular media personalities.
In a recent interview with the Daily Mail, Gisele Bündchen, one of the highest paid models in the world, lamented that working with FTX and its CEO Sam Bankman-Fried had a detrimental effect on the family’s financial situation.
Some time ago, Gisele Bündchen and her ex-husband Tom Brady, an NFL star, took an active part in promotions as high-profile representatives of the FTX Group. The pair starred in the company’s Super Bowl commercials and became FTX ambassadors.
Giselle told reporters that she and her husband were “blind” and “no different from anyone else” who had no doubts about the hype around Sam Bankman-Freed and his FTX. As a result, the star couple invested heavily in the exchange they advertised.
In total, Brady and Bundchen owned about 1.7 million shares of FTX Trading common stock, which were valued at almost $150 million at their peak. Of these, Gisele Bundchen personally owned over 600,000 shares. As of January, Bündchen and Brady were among the largest individual holders of FTX shares, according to FTX’s interim administration.
Now, Brady and Bündchen appear as defendants in a class-action lawsuit on behalf of FTX clients who lost money in the crash. Critics claim that FTX used the star couple to lure as many people as possible to use the platform.
Recently, a group of investors FTX filed another class action lawsuit. This time against the owner of the Bitboy Crypto YouTube channel, Ben Armstrong, accusing him of promoting the services of the now bankrupt cryptocurrency exchange.
Source: Bits

I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.