By
Bhushan Akolkar
April 26th, 2024
This collaboration comes as FTX is considering a possible $1B funding round that could bring its valuation to as much as $20B.
FTX Trading Ltd, the company behind FTX.COM and FTX.US, has entered into a long-term deal with celebrity couple Tom Brady and Gisele Bündchen. The deal was announced on Tuesday via a press release. The cooperation with Brady also involves FTX subsidiary Blockfolio.
As part of the partnership, the National Football League (NFL) and his supermodel wife will take an undisclosed equity stake in the company. Another term of the deal with Brady is that they will receive crypto from FTX. The quarterback/entrepreneur will take on the role of Ambassador for FTX while Gisele will serve as FTX’s Environmental & Social Initiatives Advisor. The statement revealed that the couple had already opened Blockfolio accounts and could trade any supported crypto of their choice.
Commenting on the deal, the seven-time Super Bowl champion had this to say:
“It’s an incredibly exciting time in the crypto-world and Sam and the revolutionary FTX team continue to open my eyes to the endless possibilities. This particular opportunity showed us the importance of educating people about the power of crypto while simultaneously giving back to our communities and planet. We have the chance to create something really special here, and I can’t wait to see what we’re able to do together.”
For the duration of the deal, all three parties have pledged to make yearly multi-million dollar contributions to various charities. This aspect weighs mainly on Gisele who will work with the company to identify charities more likely to have a great positive effect. She will also spearhead FTX’s current projects aimed at reducing the company’s carbon footprint and fostering equality and diversity.
A known crypto-bull, Tom caused a stir in May after he added laser-eyes to his Twitter profile picture. He tweeted on Monday in an apparent reference to recent bitcoin price drops asking if anyone had any ideas since the laser-eyes ‘had not worked’.
This collaboration with Brady comes as FTX is considering a possible $1B funding round that could bring its valuation to as much as $20B Bloomberg reports. According to sources familiar with the matter, terms of the round are currently subject to change and lead investors are yet to be announced. FTX has also been making moves in the sports world as part of its campaign to make cryptocurrency more mainstream. Last week, a sponsorship deal with Major League Baseball was announced in which starting in July, all umpire uniforms will feature FTX ad patches. In the very first deal between an NBA stadium and a crypto company, Miami Heat’s stadium was earlier this month renamed FTX Arena. In April, NFL quarterback Trevor Lawrence entered a deal with Blockfolio in which he will receive his pay in crypto.
“After talking with Tom and Gisele on our shared interest in crypto, charity, and doing your best, I was excited for them to be a part of what we’re building at FTX. I’m excited to announce our long-term partnership and believe their support will be huge in helping us achieve our goals. The three of us have a shared passion for giving back in ways that are the most impactful. I look forward to working with both of them on growing the FTX brand alongside other exciting environmental, social, and charitable initiatives that we have planned together,” said Sam Bankman-Fried, CEO of FTX, announcing the partnership.