Tom Brady named in $11 billion FTX lawsuit with investors suing bankrupt crypto company

Tampa Bay Buccaneers quarterback Tom Brady and his endorsement of the FTX crypto company has landed him in hot water as he was one of many high-profile celebrities who were named in a lawsuit on Wednesday morning.

FTX announced that they had filed for bankruptcy last week. Investors in the crypto company have now filed a $11 billion lawsuit claiming that they were deceived because they weren't 'sophisticated' in investments. It also alleges that professional athletes who endorsed FTX and made commercials for the crypto brand deceived them as well.

Brady, who is said to have invested millions of dollars in the company, is named in the lawsuit, along with professional tennis player Naomi Osaka, NBA champion Shaquille O'Neal, NBA All-Star and champion Steph Curry, the Golden State Warriors and comedian Larry David.

Investors have filed an $11 billion lawsuit against FTX and former CEO Sam Bankman-Fried, alleging they deceived "unsophisticated investors."

The lawsuit names celebrities that promoted FTX, including:

▪️ Tom Brady
▪️ Naomi Osaka
▪️ Larry David
▪️ Shaq
▪️ Golden State Warriors https://t.co/bg9oGB2lsC

Brady and now ex-wife Gisele Bundchen were featured in a commercial for FTX that was played during the Super Bowl, while also starring in other commercials for the crypto brand. Although it hasn't been stated if Bundchen has been named in the lawsuit, she did promote the brand and could be held accountable.

The seven-time Super Bowl winner recently removed all mentions of FTX from his social media accounts.

What is Tom Brady's net worth?

Tom Brady has had a rough year. He began 2022 by announcing his retirement and then reversing that decision just 40 days later. After missing significant time from training camp, rumors of a possible separation between him and Gisele Bundchen made headlines.

The two officially announced their divorce just two weeks ago. Not to mention the struggles that the Buccaneers were having on the field that they appear to be in the midst of fixing. Now it appears that he will be taking a financial hit when it comes to his investment in FTX.

JUST IN: Tom Brady, Steph Curry, Golden State Warriors, and other high-profile celebrities sued for endorsing FTX.

Tom Brady's net worth is estimated at about $250 million at the start of 2022. However, that is likely to take a hit as his investment in FTX will be sure to cut down his financial portfolio. The exact amount that the quarterback and Bundchen initially invested in the company is unknown but they were said to have a significant amount in stock.

His other investments and brands along with his NFL contract are still quite lucrative, so a complete financial downfall won't be likely at this point for the quarterback.