Brady's involvement with Crypto is beyond sketchy

[PP2]

I don't think he did anything illegal.

But I started this thread back in June when another crypto outfit hid assets with FTX in order to void paying back creditors and individual investors.

All this stuff is unregulated, and FTX was in the Bahamas, but the celebrities who worked with FTX, even if they were just getting paid for an endorsement, were already working for a company that was committing fraud by allowing other firms to park their money with them.

Maybe the celebrities didn't know this was going on. But it was in the news. Do these people have financial advisors? Seems to me it's their business to know FTX was involved in sketchy business way back.

The one thing he is guilty of is not doing his due diligence, or rather, hiring financial advisors that didn't do their due diligence.

This is why I never rely on anyone else to do due diligence for me. Nobody will take better care of your own money than you will, because you were the one that put in the sweat and earned it.

 

[PP2]

This FTX Bundchen household investment fiasco leads me to believe that they do not have competent financial advisor(s) or do not listen to their admonitions.

It will be quite interesting to know the truth once it comes out. I'm waiting for the book.

My bet is on the financial advisors not doing proper due diligence, or perhaps this is one of those things that fell through the cracks because it wasn't quite an investment, but rather an investment-for-work, gig. In other words, they were paid in investments and might have decided to toss in further investments on the spot.

 

[venecol]

It will be quite interesting to know the truth once it comes out. I'm waiting for the book.

My bet is on the financial advisors not doing proper due diligence, or perhaps this is one of those things that fell through the cracks because it wasn't quite an investment, but rather an investment-for-work, gig. In other words, they were paid in investments and might have decided to toss in further investments on the spot.

Is there any news on what they actually invested out of their own money? It seems like Kraft did actually invest his own money.

 

[upstater1]

It will be quite interesting to know the truth once it comes out. I'm waiting for the book.

My bet is on the financial advisors not doing proper due diligence, or perhaps this is one of those things that fell through the cracks because it wasn't quite an investment, but rather an investment-for-work, gig. In other words, they were paid in investments and might have decided to toss in further investments on the spot.

It would be incredible to see someone paid $180m for promotional work, but not unprecedented. Nike pays that to Lebron. And then some.

 

[PatsWickedPissah]

Is there any news on what they actually invested out of their own money? It seems like Kraft did actually invest his own money.

If Kraft did, he might not be feeling all that warm & fuzzy about Tommy Boy.

 

[venecol]

If Kraft did, he might not be feeling all that warm & fuzzy about Tommy Boy.

Do you think he sues Tommy?

 

[PatsWickedPissah]

NFW

 

[PaulLind]

You bring up some valid points there! Brady's involvement in crypto does seem a bit sketchy, but it's hard to say if he did anything illegal. It's a wild world out there in the crypto space.
I totally get your perspective on doing your own due diligence. It's crucial to have a good grip on where your hard-earned money is going.
Speaking of crypto, if you're into it, you might find using a cryptomixer to protect your privacy and keep your transactions secure. Just a personal opinion, but it's always good to stay cautious in this crypto jungle.