Tampa Bay Buccaneers quarterback Tom Brady and New England Patriots owner Robert Kraft are among a list of FTX equity owners who are set to see their investments in the cryptocurrency firm be completely wiped out in bankruptcy proceedings, according to a report by Insider. The company released a list of its top equity holders on Monday, a group that included Wall Street hedge funds and growth investors as well as some sports and entertainment figures.
The documents show that Brady, who served as a brand ambassador for FTX, owned just over 1.1 million in common shares alongside ex-wife Gisele Bundchen, who had just under 700,000 common shares. Meanwhile, Kraft had owned 110,000 Series B preferred shares of FTX Trading through his KPC Venture Capital firm, as well as 479,000 common shares and about 44,000 Series A preferred shares of West Realm Shires, the company that controls FTX's U.S. exchange.
Those investments into FTX are set to become virtually worthless, which is not uncommon for equity investors in bankruptcy proceedings. Prior to its collapse in November 2022, FTX had been valued at approximately $32 billion at its peak. New FTX CEO John Ray III, who is handling the company's restructuring, had admitted last month that the company would not be able to recover all of investors' losses.
FTX CEO Sam Bankman-Fried, who has been accused of defrauding customers out of millions of dollars' worth of digital assets, faces eight counts of fraud, money laundering and other financial crimes. Last week, Bankman-Fried pleaded not guilty to charges by the U.S. Attorney's Office for the Southern District of New York.