Tom Brady’s ex-wife, Gisele Bundchen, “trusted the hype” on FTX

In this photo illustration  a FTX logo is displayed on a
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Retired (for now) quarterback Tom Brady has various non-football business interests. One of them imploded in a spectacularly embarrassing way last year.

The FTX crypto exchange collapsed. Both Brady and his ex-wife, Gisele Bundchen, had key roles in the company. She was the head of environmental and social initiatives. They also starred in multiple FTX commercials.

Since then, their involvement has sparked a new tilte — defendant in civil litigation.

In a recent profile with Vanity Fair, Bundchen characterized herself as a victim of the grift, not as a participant in it.

“I was blindsided,” Bundchen said. “I’m no different than everyone else that trusted the hype.”

While she declined to delve into details due to pending legal entanglements, she said that she regarded FTX as “a sound and great thing based on what my financial advisers told me.”

“It’s just . . . terrible,” she said. “I’m so sorry for all of us that this happened, and I just pray that justice gets made.”

Part of justice getting made means justice possibly being done against Brady and Bundchen for their using their celebrity to spread the hype, and to allegedly dupe unsuspecting consumers.

The potential consequences are real. From civil lawsuits to potential SEC action (Lindsay Lohan and Jake Paul are some of the latest celebrities to end up under scrutiny), those who have gotten big money to help separate the born-every-minute sucker from their own cash may be writing some big checks to make things right.

43 responses to “Tom Brady’s ex-wife, Gisele Bundchen, “trusted the hype” on FTX

  1. Justice in speculative investing? Ya pay yer dues, and ya take yer chance.

  2. So someone invented their own money and persuaded a lot of people it will be worth something when the monetary system tanks and no one recognizes a $20 bill anymore as legitimate currency.

    LOL

  3. she said that she regarded FTX as “a sound and great thing based on what my financial advisers told me.”

    meaning that she is looking to spread any liability to her financial advisors…reassonable enough, and hardly a surprise.

  4. Brady is so naive and gullible. So weird for someone to be college educated, successful and rich and be so easily taken.

  5. At least you could afford to lose the money.

    Unlike some of the working class folks I know..

  6. We’re talking about a very smart woman here, she’s simply looking to avoid legal liability which is not happening.

  7. Pretty sure no one knew what was really happening outside of the head of FTX and the woman who ran the foundation. It all looked legit from the outside, and how are other people supposed to know the books were faked? Different circumstance but all the people who invested in Madoff scheme thought he was legit too. TH only difference is that Madoff’s fund wasn’t publicly accessible or promoted. I hope they only have to pay fine. All the faces of FTX were duped here by a premeditated scheme.

  8. Yeah, I’m sure Tom and Gisele took the time out of their modelling, NFL and parenting responsibilities to do deep research and due diligence on the FTX stuff — spare me. Even worse than blaming someone else for a loss on a speculative investment is blaming a celebrity with no expertise in the area for causing them to invest. There are reaches and then there are ridiculous leaps of faith.

  9. That defence ended when you became a paid spokesperson and encouraged others to throw their money away at it. It’s one thing to be an investor in over their heads; quite another to be a paid shill

  10. Just as a general rule, people shouldn’t make any investment or other big decisions based on a celebrity endorsement. As this illustrates, those folks are rarely experts, and sometimes don’t actually use what they endorse.

  11. how is any crypto or similar type currency just not a technologically creative ponzi scheme? and how does any and all certified financial advisers not know this? The US dollar isn’t worth the paper it’s printed on…unless it’s backed by something (a gov’t, gold, etc) that has legitimate value (aka collateral). the concept of crypto currency is intriguing and likely the way we’re heading (no different than the currency exchanges of traditional government backed or gold standard before Nixon got rid of it) in the digital world, once govt’s regulate and back them…but unless they have some real foundation, they’re ALL ponzi schemes (to my knowledge none of these exchanges have any real – collateral – backing). To me this should be common knowledge, not some surprise that one of these exchanges collapsed To me the real question is, why isn’t our gov’t doing enough to educate people about these legitimate concerns?..to me our gov’t is more at fault than the 35 yr old kid…answer, many of our Congress (left and right) are in bed with the leaders of these exchanges, for profit. Solution. Term limits for Congress. Now.

  12. MortimerInMiami says:
    We’re talking about a very smart woman here . . .
    ==

    We’re looking at a woman who is saying (and not saying) exactly what her team of highly-paid lawyers and handlers have advise her to say (and not say).
    Just because she’s following obvious advice in an effort to sidestep legal liability doesn’t necessarily make “smart” a part of her equation.

  13. MortimerInMiami says:
    March 23, 2023 at 11:06 am
    We’re talking about a very smart woman here
    ///////
    Based on what?

  14. As a financial advisor myself, I find it absurd and ridiculous that ANY financial advisor would refer to crypto investing as a “sound and great thing”. It is and was purely speculative, which is also why I don’t really feel bad for the “working class man” who invested significant assets into something that is little more than gambling, and now expects a bailout.

  15. Didn’t lose any money? There are verifiable losses totaling in the hundreds of millions. The guy responsible for this scam is heading to federal… prison. So, your hunch is wrong.

  16. If you purchase or invest in a product or service based primarily on a celebrity endorsement and it doesn’t work out, that’s a You problem, not the celebrity’s problem.

  17. Baker Mayfield would have been more convincing. Brady is a better QB but Baker nails his roles in commercials. He’s a good egg though.

  18. Anyone who would act on financial and investing advice from this cast of crypto-endorser characters (B&B included) deserves what comes of it.

  19. If you took financial advice to invest your life savings based on something that a NFL quarterback said, and a supermodel, said, that is your own fault. you go to Tom Brady to find out how to throw the football the right way. You don’t go to Tom Brady to find out how to Invest your finances. You go to a legitimate investment advisor.

  20. Our US dollar is the most valued currency in the world. Why? We (believe or not) have a stable government and the resources behind it.
    Why the average person thinks investing real money into created money is a good thing is beyond me. It’s called Monopoly money.
    Anyone actually like talking to a stockbroker? Yet they invest in some creepy dude with nothing behind door #1.

  21. Not everything in crypto is a Ponzi scheme. Some crypto projects are pump and dump schemes, while others are pyramid schemes. Others are just standard issue fraud. Others are just middlemen skimming of the top. Can we stop glossing over the diversity in the industry…

  22. touchback6 says:
    March 23, 2023 at 10:56 am
    Brady is so naive and gullible. So weird for someone to be college educated, successful and rich and be so easily taken.

    ——————————

    Yeah, because everyone else saw right through it. Brady was the only one to let himself be affected. Got it.

  23. This is ridiculous. If she were advertising shampoo and it made your hair fall out, the manufacturer is to blame, not the TV spokesperson.

  24. Giselle had “key roles in the organization” like the “Head of Social and Environmental initiatives.
    Do tell, what “Initiatives” did Giselle spearhead and manage? Which type of plants to install in the plush offices of FTX? Did she decide on the socially acceptable water-cooler banter and etiquette that best aligned with the Corporate mission of stealing $ from idiotic sheeple?

    Meanwhile Tom Brady is still charging $160 for a piece of styrofoam. A couple of true snake-oil salesmen that should just go away

  25. If Brady/Bundchen endorsed the product in good faith, I don’t see the liability. If they had knowledge that it was a scam and benefitted from it, well, that changes things. Pretty straightforward legally.

  26. I didn’t realize that people had to report if they were being paid to endorse crypto, and how much they were paid.
    And apparently none of the celebrities realized it either. That’s why the SEC (not the conference) is fining people and suing them.
    Why didn’t the crypto companies know and tell their endorsers that they were subject to SEC rules?

  27. dregonspengler says:
    March 23, 2023 at 11:45 am
    MortimerInMiami says:
    We’re talking about a very smart woman here . . .
    ==

    We’re looking at a woman who is saying (and not saying) exactly what her team of highly-paid lawyers and handlers have advise her to say (and not say).
    Just because she’s following obvious advice in an effort to sidestep legal liability doesn’t necessarily make “smart” a part of her equation.
    _________

    Please enlighten us as to your qualifications to determine what is obvious legal advice.

  28. No bailout. Crypto is working exactly as intended (which is beautiful).

    You lose, you lose alone. You don’t get to take everyone else with you.

    This coming from a huge supporter of cryptocurrencies.

    PS – I continue to be amazed by the lack of understanding out there on why cryptocurrencies are valuable and their purpose. Some of you don’t ever read past the headline I see.

  29. infectorman says:
    March 23, 2023 at 12:53 pm
    Giselle had “key roles in the organization” like the “Head of Social and Environmental initiatives.
    Do tell, what “Initiatives” did Giselle spearhead and manage? Which type of plants to install in the plush offices of FTX? Did she decide on the socially acceptable water-cooler banter and etiquette that best aligned with the Corporate mission of stealing $ from idiotic sheeple?

    Meanwhile Tom Brady is still charging $160 for a piece of styrofoam. A couple of true snake-oil salesmen that should just go away

    ———————-

    To be this well informed I take it you bought the styrofoam?

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