The now-bankrupt FTX has revealed a list of each of the company’s top equity holders, revealing Tom Brady’s stake.
The collapse of FTX, the world’s second-largest cryptocurrency exchange, impacted the majority of its customers as well as the cryptocurrency industry as a whole.
Following FTX’s downfall, the discredited crypto exchange has issued a list of its top investment holders who have been wiped out by the crash.
The records were released as part of the process of FTX going bankrupt, and they revealed that Tom Brady held little more than 1.1 million common shares in the company.
Furthermore, Brady’s ex-wife owns 700,000 common shares of FTX, and billionaire Robert Kraft, owner of the New England Patriots NFL team, is listed in the documents as owning 110,000 Series B preferred shares of FTX Trading, 479,000 common shares, and 44,000 Series A preferred shares of FTX US’s owner, West Realm Shires.
The document also included Wall Street hedge firms and growth investors, like Tiger Global, Sequoia Capital, Third Point, and others.
The company’s value has progressively decreased from its former valuation of almost $32 billion, and along with everyone else’s investments in FTX, it is now basically worthless.
Top stock holders and regular investors have been left carrying a bag that they would never be able to recover from, a view that was even supported by John Ray III, who took over as CEO of FTX after the company filed for bankruptcy.
“At the end of the day, we’re not going to be able to recover all of the losses here,” said John Ray III.
The collapse of the firm may not only have an impact on investors; according to reports, FTX customers who just made a deposit on the exchange may also be harmed since FTX covertly transferred the cash to its sister company Alameda Research, which subsequently reinvested them.
Per the Coin Desk, Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, the former CTO of FTX, both admitted to fraud.
In addition, the US Justice Department is looking into Sam Bankman Fried (SBF), the former CEO and founder of FTX. Also, SBF has been detained and charged with many charges of wire fraud, among other things.