Popular Celebrities Who Get Impacted By FTX Bankruptcy

FTX Latest Updates: The sudden collapse of crypto exchange FTX is likely to affect many celebrities and popular sportspersons. In the mainstream finance world, the likes of Anthony Scaramucci and Mike Novogratz are among the ones who are impacted by FTX meltdown. The chaos in crypto market due to FTX collapse led to the worst week in crypto history, the SkyBridge founder said. Whereas Mike Novogratz firm Galaxy Digital revealed the company has exposure to FTX.

Celebrities Who Had Ties With FTX

Among the celebrities who are associated with Sam Bankman-Fried‘s company are the likes of American sportstar Tom Brady. It is unclear as to how the collaborations with the celebrities would turn out after FTX announced bankruptcy proceedings. In the bankruptcy announcement, the company said it would take time to assess its situation. In quick succession, the company went from $32 billion valuation to bankruptcy as the liquidity crisis worsened. FTX’s user funds also got locked, which also brought regulatory attention to the situation and also to the industry.

Besides Tom Brady, American basketball player Steph Curry and Japanese tennis player Naomi Osaka are also associated with FTX. The Major League Baseball and Formula 1 teams have also collaborated with the crypto exchange. Also, basketball team Miami Heat named its multi-purpose arena after the crypto company as ‘FTX Arena’. Shohei Ohtani, a Japanese professional baseball player, is also associated with the company as a FTX brand ambassador.

Also, the White House said in a statement it was closely monitoring the situation along with relevant regulatory agencies. A lack of proper oversight of cryptocurrencies is bringing risk to average Americans, a representative said. Alongside the White House scrutiny, the U.S. Securities and Exchange Commission is also investigating the activities of FTX US. The regulators are probing the possibility of FTX misusing customer funds.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.