MEAWW.COM / NEWS / HUMAN INTEREST

'Ponzi on film': Tom Brady and Gisele Bündchen's FTX crypto ad goes viral as company files for bankruptcy

In the ad, Tom Brady and Gisele Bundchen are seen calling people, telling them the benefits of the FTX platform, and asking if they were in

LOS ANGELES, CALIFORNIA: Tom Brady and Gisele Bündchen's FTX crypto ad is going viral on social media platforms, with fans wondering if the whole thing was a ‘Ponzi scheme’. In the FTX crypto ad, Brady  and Gisele are seen calling a bunch of people, telling them the benefits of the FTX platform, and asking if they were in. All the people called are seen believing in their claims and accepting to invest in the platform. The ad recently went viral amid the recent crisis of the FTX platform, which has filed for bankruptcy after a dramatic financial collapse.

Several people on social media reposted the viral ad. One person wrote, “This ad just describes a Ponzi scheme right? Am I going insane how did this run.” “Ponzi on film. what a year for tom,” another added. Someone wrote, “Yep. Also tricky because her personal tweet isn’t labeled as an #ad. The only disclaimer is in the video at the end. The heat playing along in a tweet is also in conflict given the FTX arena naming rights…” “This ad perfectly captures everything wrong with everything,” yet another user remarked. 

RELATED ARTICLES 

Is FTX hacked? Internet says 'should consider quitting crypto'

What is Sam Bankman-Fried's net worth? FTX CEO loses 94% of his wealth as company files for bankruptcy

Meanwhile, Ponzi schemes typically involve someone making high investment promises while using funds from new investors to repay money owed to previous investors. Because cryptocurrencies also promise high returns on investment, many people believe that they are Ponzi schemes. According to a survey from BanklessTimes.com, a third of the US population believes digital assets are Ponzi schemes. 

“A Ponzi scheme is only sustainable as long as enough new investors are coming in to keep the scheme going. When that stops, the whole thing collapses. Bitcoin is not a Ponzi scheme because it does not rely on new investors to keep it going. Instead, Bitcoin relies on its own technology and network effects to maintain its value,” BanklessTimes CEO Jonathan Merry remarked. 

Earlier, a similar ad starring 'Curb your Enthusiasm' star Larry David, went viral on social media, and users pointed out that the comedian's skepticism in the advertisement was accurate all along. The ad, which denigrated historical accomplishments including the development of the wheel and Thomas Edison's light bulb, ran during the Super Bowl in February of last year. It features David concluding the commercial by labeling FTX a failed idea. An actor portraying an FTX executive tells David in the ad, “Like I was saying, it’s FTX. It’s a safe and easy way to get into crypto.” “Ehhhh, I don’t think so. And I’m never wrong about this stuff – never!” David replies with a smirk. The commercial then ends with a message saying, “Don’t be like Larry. Don’t miss out on the next big thing,” while urging viewers to sign up for FTX.