Tom Brady is not one to let a Super Bowl hangover last very long, and it appears the football star is not just prepping his physique for the upcoming season. A new investment in FTX is shaping up his wallet as well. With the Tom Brady crypto investment making waves among investors, many want to know the ins and outs of the deal — and the exchange.
So what do you need to know?
Brady is a long-time proponent of cryptocurrency, even talking at Consensus 2021 about Bitcoin (CCC:BTC-USD). Well, the Tampa Bay Buccaneers’ quarterback is looking to new investment opportunities in the asset class.
Previously, Brady was bolstering his portfolio with Bitcoin holdings, but the new investment in the FTX crypto exchange sees the quarterback treading new waters and taking on an ambassadorship.
Tom Brady Crypto Deal Sees Football Star as the Face of FTX
News is breaking today about Tom Brady and his partner Gisele Bündchen taking equity stakes in the crypto exchange FTX. San Francisco-based FTX is one of the largest crypto exchanges, with a worldwide user base. It is among the likes of Binance (CCC:BNB-USD) or Coinbase (NASDAQ:COIN).
The stake isn’t just an investment, but a partnership between the two celebrities and FTX. Brady will be an exchange ambassador — a giant of a spokesman for the platform. Additionally, Bündchen will serve as FTX’s environmental and social initiatives advisor.
The announcement is another huge win for FTX. It comes as the crypto expand works to expand its reach, particularly in the world of sports. FTX partner Blockfolio inked a deal ahead of the NFL draft with first-overall pick Trevor Lawrence, making the fledgling star a brand spokesman and turning him a healthy profit with his payment coming in the form of Bitcoin. The brand also collaborated with Major League Baseball on a deal which will see umpires bearing the FTX logo on their uniforms before the end of the summer.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
