Benzinga - FTX's founder, Sam Bankman-Fried, maintained strong ties with many influential figures in the realms of politics and business, however, his most prominent connection seemed to be in the sports domain.
Despite not being an avid sports enthusiast and having a penchant for video games such as League of Legends, Bankman-Fried forged major partnerships with sports icon Tom Brady and supermodel Gisele Bündchen, Fortune reported.
They became "ambassadors" for FTX, with Brady actively endorsing the brand on platforms like TikTok, events, and advertisements.
These developments come to light as the digital currency community gears up for Benzinga's Future of Digital Assets conference on Nov. 14, where such partnerships will be among the topics of discussion.
In 2021, Brady clinched an endorsement deal, receiving nearly $30 million predominantly in FTX shares, as per the New York Times.
The report by Michael Lewis further revealed that Bankman-Fried's alliance with the duo commenced with an agreement to compensate Brady and Bündchen $55 million and close to $20 million, respectively.
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This was in exchange for 20 hours of their annual commitment over a span of three years.
To put things into perspective, Brady's earnings from one of his final NFL seasons with the Tampa Bay Buccaneers hovered around $30 million, according to Forbes.
This professional collaboration between Brady and Bankman-Fried evolved into a personal bond, as highlighted in a recent 60 Minutes interview featuring Lewis.
Lewis said Brady held Bankman-Fried in high regard, finding him intriguing and valuing his insights.
Lewis amusingly described their rapport as akin to the "class nerd" bonding with the "quarterback."
However, FTX's downfall had a profound impact on Brady, both financially and emotionally.
The shares he was guaranteed became worthless.
Lewis, in his conversation with 60 Minutes host Jon Wertheim, mentioned that Brady felt deeply betrayed, lamenting, "He tricked me. I'm angry. I don’t wanna have anything to do with it anymore."
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