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FTX bankruptcy documents show list of investors set to be completely wiped out, including Tom Brady and Robert Kraft

Tom Brady looks on during a game.Tom Brady.

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  • FTX released a list of its equity holders on Monday as it continues to navigate the bankruptcy process.
  • Some of the top holders of FTX equity included in the list are Tom Brady, Robert Kraft, and Gisele Bündchen.
  • The FTX shares owned by Brady, Kraft, and Bündchen are expected to be worthless.

The spectacular implosion of FTX has led to big investment losses for football star Tom Brady, New England Patriots owner Robert Kraft, and fashion model Gisele Bündchen.

As part of its ongoing bankruptcy process, FTX released a list of its top equity holders on Monday, detailing just how many investors are set to be completely wiped out from the downfall of the crypto exchange.

The document revealed that Brady, who was a brand ambassador for FTX and appeared in a commercial for the company, owns just over 1.1 million common shares of FTX. Meanwhile, Bündchen, who is Brady’s ex-wife, owns just under 700,000 common shares of FTX.

Billionaire Robert Kraft, who owns the New England Patriots football team, was also listed in the FTX bankruptcy document. Through KPC Venture Capital, Kraft owns over 110,000 Series B preferred shares of FTX Trading, as well as 479,000 common shares and about 44,000 Series A preferred shares of West Realm Shires, the company that controls FTX’s US-based exchange.

Other investors on FTX’s equity-holder list include Wall Street’s elite hedge funds and growth investors, according to the bankruptcy document.

Well-known funds run by Tiger Global, Thoma Bravo, Sequoia Capital, SkyBridge, and Third Point, among others, were listed as owning millions of both common and preferred shares of FTX. 

Those investments are now virtually worthless, representing a steep fall from FTX’s peak valuation of about $32 billion. During typical bankruptcy proceedings, only bond holders are able to recoup some of their losses, while equity investors are usually wiped out entirely.

John Ray III, the new FTX CEO who is handling the company’s restructuring, said last month, “At the end of the day, we’re not going to be able to recover all of the losses here.” 

And those losses don’t necessarily mean just investor losses, but could also entail the money lost by FTX customers who deposited their money on the platform. It turns out that those funds were not sitting on the FTX platform, but were instead being transferred to FTX’s sister crypto trading firm, Alameda Research. 

Read the original article on Business Insider