Investors in Bankrupt FTX Crypto Exchange Included IMG, Tom Brady, Robert Kraft

Investors in failed cryptocurrency exchange FTX included Endeavor’s IMG sports division, NFL quarterback Tom Brady and New England Patriots owner Robert Kraft, according to bankruptcy court documents. FTX’s epic crash has likely rendered the holdings of its dozens of investors worthless. The company, which filed for Chapter 11 bankruptcy protection in November, had raised a total of $2 billion of capital, including a $400 million Series C round that closed in January 2022 at a valuation of $32 billion. FTX at one time held a reported $50 billion in assets; it filed for bankruptcy after a run on deposits left… Read Full Article