How Tom Brady’s crypto ambitions collided with reality

As an FTX “ambassador,” Tom Brady appeared in a Super Bowl commercial, on billboards and at FTX’s conference in the Bahamas, promoting the start-up as “the most trusted” institution in crypto.SAN FRANCISCO — As the FTX cryptocurrency exchange imploded last fall, Tom Brady, the seven-time Super Bowl-winning quarterback, made an urgent phone call.

He dialed Sina Nader, FTX’s head of partnerships. The exchange’s staff was in the middle of a crisis meeting with its beleaguered founder, Sam Bankman-Fried. Nader couldn’t answer. “I never would’ve expected to decline a call from Tom Brady,” he said.

Brady had reasons to be concerned. As an “ambassador” for FTX, he had appeared at the company’s…