Tom Brady Roasted Over Involvement With Failed Crypto Exchange FTX
Summary:
The retired NFL star Tom Brady was the center of various jokes during a Netflix roast, specifically about his ties to the failed crypto exchange, FTX. Brady's $30 million loss in crypto and his avoidance to host the roast at the Crypto.com arena were subjects of mockery. In addition, Brady and other celebrities face a lawsuit for allegedly profiting from endorsing FTX, which collapsed in 2022. In the same year, Brady announced his own Nonfungible token (NFT) platform which had to change its direction due to plummeting interest in NFTs by 2023.
Tom Brady, the retired professional football player, was the center of attention in a Netflix-aired roast, where jokes were made about his advertising role with the failed cryptocurrency exchange FTX. The roast, which was one of Netflix's comical gala evenings, was hosted by comic Kevin Hart on May 6th, seeing Brady being notoriously teased about his football career, his split from Giselle Bündchen in 2021, and several other regrettable elements of his life. Hart, teasing Brady, questioned why Brady shied away from hosting the roast at the Crypto.com Arena, making a pun on his involvement with FTX.
Taking a dig at Brady, comedian Nikki Glaser also ridiculed his $30 million loss in cryptocurrency. Rob Gronkowski, Brady's ex-football colleague, known for his less illustrious intellect, wasn't spared either and Glaser used his reference to further mock Brady.
Alongside Brady, Bündchen and several prominent personalities were implicated in a class-action lawsuit that was instigated post the downfall of the FTX exchange in November 2022. The lawsuit alleges the involved celebrities profited from endorsing FTX.
Brady and Bundchen had acquired an equity interest in FTX in 2021. Rumors suggest that Brady was rewarded about $30 million in FTX stocks for advocating the exchange and working closely with the exchange's incarcerated founder, Sam Bankman-Fried. Upon filing for insolvency in November 2022, the public was made aware that FTX's senior executives had been misusing client deposits for trading activities, creating a deficit of several billion dollars on the exchange's financial records.
During 2021, Brady was deeply associated with the world of cryptocurrency and even announced the inauguration of his nonfungible token (NFT) platform in April. Yet, come 2023, with a dwindling interest in the platform and NFTs overall, Brady's venture shifted focus, as reported by the New York Times in July 2023.
Published At
5/7/2024 7:40:47 AM
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