Tom Brady, Gisele Bundchen to pick up stake in crypto exchange FTX

REUTERS: National Football League quarterback Tom Brady and his supermodel wife, Gisele Bundchen, will each take an undisclosed equity stake in U.S. crypto exchange platform FTX Trading Ltd, the company said on Tuesday.

Under the deal, Brady will also become an FTX ambassador and Bundchen will take the role of environmental and social initiatives adviser. Both will receive an unspecified amount of cryptocurrency, the company said.

Founded and led by Sam Bankman-Fried, a 29-year-old crypto veteran billionaire, FTX is in talks to raise US$1 billion at a valuation of US$20 billion, according to media reports.

Brady, a seven-time Super Bowl champion, has long been an advocate of cryptocurrencies. Last month, he edited his Twitter profile photo to one with a "laser eyes" meme - a popular internet fad among supporters of cryptocurrency.

Earlier this year, Brady also said he would launch a Non-Fungible Token (NFT) platform called Autograph that will bring together iconic brands from sports, entertainment, fashion and pop culture to create digital collectibles.

(Reporting by Niket Nishant in Bengaluru; Editing by Ramakrishnan M.)