Renowned football quarterback Tom Brady once inked a groundbreaking agreement with the now-defunct FTX exchange, valuing his time at a staggering $55 million for a mere 20 hours, as disclosed in a recent report.
Nonetheless, this alluring sum swiftly transformed into a potential financial crisis as the harsh realities of the volatile cryptocurrency market unfurled.
A Bet Gone Awry
Before its unexpected decline, FTX had embarked on an assertive marketing campaign. This campaign featured the seven-time Super Bowl champion, Tom Brady, and his supermodel spouse, Gisele Bündchen, as brand ambassadors for the exchange. In their roles, both celebrities graced billboards, starred in a Super Bowl commercial, and headlined an FTX conference in the Bahamas, all while endorsing FTX as the epitome of trustworthiness in the cryptocurrency realm.
The endorsement didn’t come without a hefty price tag. Brady received $55 million as compensation, primarily in FTX stock, while Bündchen was awarded $20 million, once again predominantly in the company’s stock. However, as FTX tumbled into oblivion, the couple’s high-value stock holdings lost their worth.
Taylor Swift Evades a PR Crisis
While Tom Brady, his spouse, and several other A-list celebrities found themselves entangled in the FTX debacle, the “Anti-Hero” songstress, Taylor Swift, narrowly averted her own public relations catastrophe.
Contrary to initial reports suggesting that the pop icon had wisely declined a $100 million contract with FTX, it has been disclosed that she did, in fact, give her approval for a partnership. The unexpected twist? It was Bankman-Fried, FTX’s embattled founder, who ultimately decided not to proceed with the collaboration.