FTX Faces Bankruptcy and Reputational Damage, Celebrities Reduce Involvement in Crypto Space

Celebrities who endorsed FTX, a company that has faced financial and legal issues, are now investing and promoting less in the crypto and Web3 space. According to Crunchbase data, Shaquille O'Neal, Stephen Curry, Naomi Osaka, and Tom Brady have diversified their investments into other industries. Tom Brady, for instance, has shifted his focus to sports investments, including purchasing stakes in the Las Vegas Aces and Raiders sports franchises. Some celebrities who promoted crypto products without disclosing payments have faced consequences, leading them to be more cautious about future investments.