FTX allegedly brought in big money for Stephen Curry.
In 2021, Curry became involved with the company as a global ambassador and secured equity stake in it as well.
“Welcome to the FTX Team, NBA Superstar Stephen Curry! 🏀 We’re excited to announce he’s become FTX Global Ambassador and a shareholder. Though, who better to announce it than @StephenCurry30 himself,” FTX said in a now deleted tweet.
“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users,” Curry shared in a press statement at the time. “FTX is likeminded when it comes to giving back to the community in meaningful ways and I can’t wait to see what we can achieve together.”
Today, Curry’s involvement with the company is extinct. The cryptocurrency exchange collapsed in November 2022, as AFROTECH previously reported.
Curry allegedly could have pocketed $35 million from FTX founder Sam Bankman-Fried, according to a new book by bestselling author Michael Lewis.
During a “60 Minutes” interview, Lewis shared details about his book “Going Infinite: The Rise and Fall of a New Tycoon,” which focuses on FTX and its dynamic founder.
“He turned to the sports world to bring his exchange both legitimacy and edge,” Lewis said about Bankman-Fried in the interview, according to the San Francisco Examiner. “He paid Tom Brady $55 million for 20 hours a year for three years. He paid Steph Curry $35 million for — same thing for three years.”
Curry’s involvement with FTX continues to be in murky waters. He has also been named in a class action lawsuit (2022) associated with the exchange, which additionally lists Naomi Osaka and Shaquille O’Neal. The lawsuit argues the celebrity endorsements of FTX were “fraudulent” and “designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.”
Most recently, FTX moved forward with its own lawsuit to recover some of its losses from advertising or sponsorship deals, per Bloomberg. Some of the listed individuals in the lawsuit filed by FTX include Osaka, who allegedly pocketed $308,333.34 and Shaquille O’Neal, who allegedly received $749,999.93 from FTX, according to court filings.