Tom Brady, Steph Curry and Kevin O’Leary set to lose big from FTX bankruptcy filing
Former FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune in just a few days after his company filed chapter 11 bankruptcy protection on Friday, but he’s not the only high-profile investor who may lose money amid FTX’s downturn.
As interest in crypto and crypto exchanges exploded in recent years, more high profile individuals like professional athletes and other entertainment personalities joined financial institutions in investing in FTX.
One of those athletes is Tampa Bay Buccaneers quarterback Tom Brady.
It’s unclear what will happen to the money investors put into in FTX, but their equity could be wiped out by the bankruptcy filing.
Representatives for Curry, Brady, Bündchen and FTX did not respond to MarketWatch’s request for comment on this story.
Other high-profile investors in FTX were Jacksonville Jaguars quarterback Trevor Lawrence, MLB’s Shohei Ohtani, tennis star Naomi Osaka and Sharktank’s Kevin O’Leary.
Additionally, Major League Baseball has a marketing deal with FTX...
I had to look it up but apparently FTX was a currency exchange for bitcoin. In essence they wrote computer code to prove a person owns a thing that doesn't really exist. Did I get that right? And this company was worth billions of dollars?
I have examinied this BitCoin (hoax) as best I can from every angle, and I swear the more that I learn about its processes--especially the "mining" of new "coins" by way of guessing a 57-digit number using hyped up gaming computers--the more absolutely impossible it is to conceive that it's actually taken off and has been pretending to fly this long--with people pretending to see it flying. If you were to pitch the whole idea of a "cyber-currency" with nothing whatever to support it, concocted by insane but interesting vilainous geeks like John McAfee, as a screen-play for a dystopian sci-fi sort of project, it would be dismissed with a laugh. It's simply far too preposterous. And yet here we are.
Obviously ponzi schemes work--until they crash-- and this one is some sort of fancy mashup of the ol' '90's wild west day trading and "airplane."
As for holding something deemed worth $50K and actually converting it to dollars or Euros, good luck. But then it's all Monopoly money now regardless, so...
Last edited by LTS TRN 2 on Sat Nov 12, 2022 12:45 am, edited 2 times in total.
Softball Bat wrote: ↑Sat Nov 12, 2022 1:30 am
Cryptotards live in la-la-land.
As do gold bugs. They hoard scraps of paper saying they "own" something which has no intrinsic value while they mumble about fiat currency without even a smidgeon of irony.
Screw_Michigan wrote: ↑Fri Apr 05, 2019 4:39 pmUnlike you tards, I actually have functioning tastebuds and a refined pallet.
LTS TRN 2 wrote: ↑Mon Nov 14, 2022 9:48 am
Let's see, the hooknosed parasite who swindled and gutted the entire crypto market--itself a mighty swindle--and has apparently made off with a cool Billion is named....Bankman-Fried? :doh:
C'mon, Henry Ford wouldn't believe this...
This isn't your race-baiting thread.
Roach, can we have all LTS KKK posts that use race-baiting terms either moved here or deleted?
“Left Seater” wrote:So charges are around the corner?
LTS TRN 2 wrote: ↑Mon Nov 14, 2022 9:48 am
Let's see, the hooknosed parasite who swindled and gutted the entire crypto market--itself a mighty swindle--and has apparently made off with a cool Billion is named....Bankman-Fried? :doh:
C'mon, Henry Ford wouldn't believe this...
This isn't your race-baiting thread.
Roach, can we have all LTS KKK posts that use race-baiting terms either moved here or deleted?
Corrected
“Left Seater” wrote:So charges are around the corner?
Hey, where'd all the euphemisms go? We're going to need some new ones when--or if--the entirety of this astonishing--and unprecedented--FTX scandal is revealed. Wow! It's a whole lot worse than we might have thought as we casually took note of a $30 Billion company evaporating overnight.
It turns out Mr Bankman-Fried (no, that's not a caricature name in a Storm Front satire piece on Tik Tok) is the biggest donor to the DNC, solidly connected to all of the honcho Demos, and an egocentric millenial hippie whose avarice makes the brash bluster of Boesky and Milken seem quaint by comparison. Yeah, he's got some explaining to do concerning the pyramid scheme structure of the entire company right to the last second--when he announced that a billion or so was "missing"
I bet that piece tells the whole story. I mean it’s Fox, Fox would never try and mislead their viewers. Because you know, they are Fair AND Balanced.
Oh wait…
“FTX Digital Markets Co-CEO Ryan Salame has donated $4 million to a political action committee aligned with Republican candidates.”
And what’s this?
“Ryan Salame, FTX's 29-year-old co-CEO, has spent roughly $21.4 million this election cycle. Salame has given $16 million to American Dream Federal Action, a PAC he founded to back "forward-looking Republican candidates who want to protect America’s long-term economic and national security,"”
I guarantee 99% of their viewers will never see that part of the story. Or the part where…
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Salame has also given $2 million to the Congressional Leadership Fund, a Republican super PAC, and about $114,000 combined to the National Republican Congressional Committee, and the Republican National Committee. Grow NC Strong, a PAC that shelled out $1.5 million to unseat former Rep. Madison Cawthorn (R-NC), has received $500,000 from Salame.
Or the money SBF personally gave to republicans.
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SBF
@SBF_FTX
·
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1) I was a significant donor in both D and R primaries.
Supporting constructive candidates across the aisle to prevent pandemics and bring a bipartisan climate to DC.
And working with them to support permissionless finance.
Going back to the original topic of the thread, I’m pretty sure that Brady and Curry will find some way to survive financially in spite of this earth shattering meltdown. Can’t really speak about Kevin O’Leary. Because who the fuck is Kevin O’Leary?
Kierland wrote:I made five figures on doge so it’s pretty real to me.
Yup, you “made” 5 figure.
And someone or combination of people lost it.
You took their money and gave them nothing in return.
This is actual wage theft, unlike your Marxist bullshit.
Sent from my iPhone using Tapatalk
It’s actually not. Any more lies?
Explain, por favor?
You all put "wages" into this ponzi scheme. Some walked away with more than they put in, some didn't. Nothing of actual value was produced.
This is called gambling.
Nothing wrong with gambling, so long as it is done on the level and voluntarily.
The difference between this form of gambling and other forms of capitalism, is that in other forms, there tends to be actual wealth production. You know, good and services that make life better.
mvscal wrote:The only precious metals in a SHTF scenario are lead and brass.
So now I have to define “wage theft”?
Do you know want ANY words mean?
And you don’t even know what Capitalism is if you think crypto is outside of it.
You are like mind bogglingly stupid. Whether it’s a hedge fund, crypto, NFTs, lotto or betting on a horse, the gambling IS the service. Or maybe you think Vegas is socialism. At this point I wouldn’t doubt it.
