These US celebrities who were affected by the FTX bankruptcy

The sudden collapse of the crypto-currency exchange FTX is likely to affect many popular celebrities and sportsmen.

In the world of finance, the likes of Anthony Scaramucci and Mike Novogratz are among those affected by the FTX collapse. The chaos in the crypto-currency market due to the FTX collapse has led to the worst week in crypto-currency history, said the SkyBridge founder. Mike Novogratz’s Galaxy Digital revealed that his company was exposed to FTX.

Celebrities with ties to FTX

Celebrities associated with Sam Bankman-Fried’s company include American sportsman Tom Brady. It is unclear how celebrity collaborations will play out after the announcement of FTX’s bankruptcy proceedings. In the bankruptcy announcement, the company said it would take time to assess its situation. In quick succession, the company went from a $32 billion valuation to bankruptcy as the liquidity crisis worsened. FTX user funds were also frozen, which also brought the situation and the industry to the attention of regulators.

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In addition to Tom Brady, American basketball player Steph Curry and Japanese tennis player Naomi Osaka are also associated with FTX. Major League Baseball and Formula One teams have also collaborated with the crypto-currency exchange. In addition, the Miami Heat basketball team named its multi-purpose arena after the crypto-currency company “FTX Arena“. Shohei Ohtani, a Japanese professional baseball player, is also associated with the company as an FTX brand ambassador.

In addition, the White House said in a statement that it is closely monitoring the situation with relevant regulators. The lack of adequate oversight of crypto-currencies puts average Americans at risk, a representative said. Along with the White House review, the U.S. Securities and Exchange Commission is also investigating FTX US’s activities. Regulators are looking into the possibility that FTX is misusing its customers’ funds.

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