Tom Brady got $50 million, Stephen Curry $28 million from FTX, Taylor Swift wanted $100 million

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Last Updated on 6 November 2023 by CryptoTips.eu

This week the FTX process continued, with an interesting new fact. FTX customers still haven’t gotten their money back, but they now know where at least some of their money went.

Even though it previously emerged that FTX and Alameda already suffered losses in 2017, Sam Bankman-Fried still wanted to increase the image of his crypto platform. He was happy to give money to celebrities and sporting organizations in return for endorsements.

So-called ‘celebrity endorsements’ are a very normal technique in the United States, but one which has come to bite them in the ass, given that many former FTX customers are openly asking for their money back from those celebrities on social media.

Of the $8 billion in customer funds that were lost, at least $1 billion appears to have gone to celebrities and sporting organizations. The call for Tom Brady and Gisele to return their $50 million is becoming increasingly louder in the United States.

Taylor Swift ultimately did not make a deal with FTX (she asked for $ 100 million) and thus is not getting blamed on social media.

Advertentie.

Tom and Gisele

The amounts that became known are not small, nor are the names of the celebrities.

The jury in the FTX trail was given a spreadsheet of celebrity sponsorship deals this week, which showed how much Sam Bankman-Fried liked celebrity endorsements.

His company gave $205 million to rename the FTX arena in Miami, $150 million to Major League Baseball, $28.5 million to Stephen Curry, $50 million to Tom Brady and Gisele Bundchen and $10 million to actor Larry David.

The deals on the spreadsheet amounted to a whopping $1.13 billion.

Swifties

Bankman-Fried also tried to sign pop’s biggest star, singer Taylor Swift, to promote his FTX platform.

Some members of his own company opposed it, claiming that a contract with Taylor was far too expensive.

Ultimately, talks about paying Taylor Swift $100 million stopped amid concerns the deal wouldn’t amount to much.

In other words, the FTX board didn’t think Swifties, which is how the group of Swift fans is normally called, was really interested in crypto.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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