Investors in Bankrupt FTX Crypto Exchange Included IMG, Tom Brady, Robert Kraft – Yahoo! Voices

wp header logo 39.png

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 it with an $8 billion shortfall in assets.
More from Variety
Jane Fonda on Her ‘Gorgeous’ ’80 for Brady’ Co-Star Tom Brady: When I Saw Him ‘My Knees Gave Out’
’80 for Brady’ Director Kyle Marvin Recalls ‘Wild’ First Reaction to Tom Brady In 2017 Patriots Uniform
Sam Bankman-Fried Arrested in Bahamas on Sealed Indictment
On Monday, the U.S. Bankruptcy Court for the District of Delaware released a list of equity holders in FTX and its affiliates (available at this link).
According to the document, IMG held 163,000 shares of Class A common stock and 38,154 shares of Class B preferred stock in one of FTX’s entities. Brady owned 1.14 million common shares and his ex-wife, Giselle Bündchen, held 686,761 shares; Brady and Bündchen had appeared in a 2021 ad promoting FTX. Kraft held 479,000 shares of common stock and 155,144 shares of preferred stock in FTX entities through his KPC Venture Capital.
Major FTX shareholders included Dan Loeb’s Third Point, Paradigm, Sequoia Capital, Thoma Bravo, Softbank, New Enterprise Associates (NEA), Temasek, Tiger Global Management and Coinbase, a crypto exchange competitor to FTX.
Former FTX CEO Sam Bankman-Fried was arrested last month in the Bahamas and extradited to the U.S., where he was charged with eight criminal counts including fraud and money laundering. Bankman-Fried has pleaded not guilty to the charges. He was released on a $250 million bond while awaiting trial, which is set to start Oct. 2, 2023, in New York.
Hollywood has jumped on the FTX affair with multiple projects about the company and its collapse in development, including a limited series from Joe and Anthony Russo’s AGBO production company for Amazon Studios.
Pictured above: FTX founder Sam Bankman-Fried leaves Manhattan federal district court after his arraignment and bail hearings on Dec. 22, 2022
Best of Variety
What’s Coming to Netflix in January 2023
What’s Coming to Disney+ in January 2023
Oscar Predictions: Live Action Short – Alfonso Cuarón and Disney are Early Favorites Among Multiple Non-English and International Titles
Sign up for Variety’s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Click here to read the full article.
Strong dividends plus solid growth prospects could add up to 2x total returns with these three stocks.
The Twitter and Tesla CEO will get "complete financial flexibility" this year, predicts VC Chamath Palihapitiya.
While many investors now believe inflation and elevated energy prices are in the rear-view mirror there are still catalysts that can cause energy prices to rally in 2023
The latest Consumer Price Index (CPI) figures showed that inflation is still easing, having dropped for the 6th consecutive month. The CPI for December rose by 6.5% from the same period a year ago and fell by 0.1% compared to November, thereby meeting Street expectations. There are still areas of concern, though, such as services inflation, which might put a spanner in the works for investors hoping the latest readout will cause the Fed to put the brakes on its rate-hiking endeavors. Additionall
The stock market will be closed on Monday for Martin Luther King Day. The bond market will also be closed. Both will close at the usual times Friday.
Pulte Capital CEO Bill Pulte and Thor Equities CEO Joe Sitt explain why U.S. real estate is headed towards "big trouble" in 2023 and could put "a lot of things to a stop."
The dollar's recent slump looks set to continue through 2023, UBS Global Wealth Management's Dominic Schnider said Friday.
These hedge fund managers outperformed the market over the last three years, and they're both buying FAANG stocks.
The super investor is sounding the alarm.
"What does history show? When everyone is on one side, they're usually wrong," Wharton professor Jeremy Siegel said.
One of the higher-paying dividend stocks right now is Medical Properties Trust (NYSE: MPW), a real estate investment trust (REIT) that invests in healthcare facilities. Or is there a once-in-a-lifetime investment opportunity here? Many hospitals don't own their buildings; companies like Medical Properties Trust do.
In 2020, it seemed Cathie Wood could do no wrong. One stock that Wood is particularly bullish on is Roku (NASDAQ: ROKU). Wood's bull case on Roku is even more optimistic, with a price target of $1,493, or potential gains of 3,100%.
In this article, we discuss 11 undervalued dividend aristocrats to buy now. You can skip our detailed analysis of dividend and value investing, and go directly to read 5 Undervalued Dividend Aristocrats To Buy Now. After engaging in tight monetary policies in 2022, central banks are expected to “pivot and signal cutting interest rates sometime” […]
Argentinian soccer legend Lionel Messi's clothing brand The Messi Store made its U.S. market debut on Friday, with the stock jumping more than 200%.
A few months ago, I bonds started getting a lot of attention when interest rates reached a record 9.62%. For those who aren't familiar, I bonds, also known as Series I savings bonds, are a type of federally backed government bond with an interest rate that's tied to the inflation rate. The fixed rate is locked in for as long as you hold the bond, but the Bureau of the Fiscal Service updates the inflation rate every May and November based on changes to the Consumer Price Index for All Urban Consumers (CPI-U).
A long track record of profits and a big growth plan make Albemarle a better, safer bet than money-burning EV start-ups.
Semiconductors are the building blocks of modern technology and the world can't get enough of them right now. A global chip shortage began during the pandemic, and with supply chain disruptions continuing, it's still causing problems in chip-reliant spaces such as the automotive industry. Over the long term, our growing use of technology will demand more semiconductors.
These innovative stocks are begging to be bought following a peak decline of 38% in the growth-driven Nasdaq Composite.
Moves in markets suggest the "iceberg of fear … is easing," even as the Fed still has rate hikes in the pipeline for 2023, said one analyst.
Expensive stocks can have low share prices. Cheap stocks can have high share prices. It might seem counterintuitive, but it's true. Of course, there are also attractively valued stocks that have low share prices.


Leave a Reply

Your email address will not be published. Required fields are marked *