Naomi Osaka is in trouble after the failure of FTX. The Japanese star is not having an easy time in her career, which spans from the infamous 2021 Roland Garros number when she revealed to the world that she was suffering from mental health issues.
Naomi is a shareholder in FTX, a cryptocurrency exchange company which filed for bankruptcy on November 11. FTX has taken a severe tumble over the past seven days, falling from $22 to $1.40.
FTX CEO Sam Bankman-Fried, who is currently under investigation into how he handled the company he founded in 2019, has already filed for bankruptcy following the massive devaluation of cryptocurrency.
Naomi had signed the deal with FTX in March 2022. She bought shares of FTX and in the deal, the Japanese tennis player was expected to be the company’s ambassador to the world.
Naomi Osaka’s deal also included her involvement in creating media content to promote cryptocurrencies. Osaka lost all his earnings in the bankruptcy of FTX, as did many other sportspeople such as Lewis Hamilton and George Russel.
The FTX Bankruptcy: What Happened.
Platform lawyer James Bromley of the law firm Sullivan & Cromwell, pointing out that the bankruptcy process allows you to see what is really in the company: “FTX was controlled by inexperienced and untrained individuals .
What we have here is an international organization run by Sam Bankman-Fried as a personal fief.” An initial review of FTX’s accounts revealed that significant funds were transferred to Alameda Research, another Bankman-Fried company.
Among these millions of dollars some went, according to rumours, to the purchase of sumptuous properties in the Bahamas. In one, the former CEO lived with 10 other people between long nights, pills and liberal love affairs.
Additionally, former FTX CEO Sam Bankman-Fried, along with his parents and other cryptocurrency exchange executives, purchased real estate in the Bahamas for $121 million. over the past two years, as reported by the New York Post, noting how this indiscretion fuels doubts about missing funds.
