Ontario Teacher’s Pension Plan among biggest losers of the FTX cryptocurrency meltdown

Article content material

The meltdown of the cryptocurrency trade FTX price a handful of celebrities appreciable sums of cash.

Article content material

The as soon as high-flying firm filed for chapter in November, and its founder and CEO Sam Bankman-Fried (who misplaced billions himself) is awaiting trial in New York Metropolis on fraud prices, to which he has pleaded not responsible. Co-founder Gary Wang reportedly misplaced practically $2 billion.

Just lately, a 68-page doc revealed in courtroom the people and funding companies who had the biggest shares within the firm. At its peak in September of 2021, FTX was valued at $32 billion U.S. At that time, shares have been buying and selling at $80.

In fact many extra common traders misplaced cash too, simply not as a lot individually as these individuals.

THE BIGGEST FTX LOSERS:

Tom Brady and Gisele Bundchen: The NFL legend and his super-model ex-wife starred in commercials for FTX and had quite a lot of shares.

Article content material

Brady had 1.1 million frequent shares of FTX Buying and selling, which have been value about $93 million on the peak, in response to the Daily Mail.

Bundchen has greater than 680,000 shares and so they have been value $57 million on the excessive.

That mentioned, no person but is aware of if they really paid something for the shares or got them for selling FTX.

“It’s an extremely thrilling time within the crypto-world and Sam and the revolutionary FTX group proceed to open my eyes to the countless potentialities,” Brady mentioned in 2021. “This explicit alternative confirmed us the significance of training individuals concerning the energy of crypto whereas concurrently giving again to our communities and planet. We’ve the possibility to create one thing actually particular right here, and I can’t wait to see what we’re in a position to do collectively.”

Article content material

Brady’s agent, Don Yee, and a spokesman for Robert Kraft didn’t instantly reply to DailyMail.com’s request for remark.

Robert Kraft: Kraft owns the NFL’s New England Patriots and is an in depth good friend of Brady’s. He has a web value of over $10 billion, so possible doesn’t care an excessive amount of that his greater than 600,000 shares, which have been as soon as valued at $53 million, at the moment are nearly nugatory.

Peter Thiel: One other billionaire, Thiel is value over $7 billion. He based Paypal and had round 300,000 shares valued at $25 million.

Article content material

Shohei Ohtani: Ohtani, among the best gamers in baseball and a former MVP who each pitches and hits, took a stake as an envoy in inventory, firm fairness and cryptocurrency. It’s unclear precisely what the collapse price him.

Different sporting figures like tennis star Naomi Osaka and Jacksonville Jaguars quarterback Trevor Lawrence additionally had comparable offers. Steph Curry, Shaquille O’Neal and tv star Larry David additionally misplaced out.

Leagues and arenas (like the house of the Miami Warmth) have additionally been impacted by the collapse. The Miami area will probably be named Miami-Dade Area for now as an alternative of FTX Area.

Nearer to residence, the Ontario Academics’ Pension Plan took a sizeable hit. It’s going to write down the whole lot of its $95 million funding in FTX, in response to reviews.

The plan owned 11.9 million shares.