Sam Bankman-Fried paid Tom Brady $55 million for a week of work

Sam Bankman-Fried, the embattled cryptocurrency magnate currently facing federal trial for fraud and money laundering charges, paid NFL legend Tom Brady a staggering $55 million for what can only be described as minimal work conducted over a three-year period. This revelation comes from bestselling author Michael Lewis, who recently penned "Going Infinite: The Rise and Fall of a New Tycoon."

In an interview with CBS' "60 Minutes," Michael Lewis shed light on the extravagant spending habits of Sam Bankman-Fried during his tenure as the head of FTX, which eventually led to his downfall. Bankman-Fried is accused of overseeing a $32 billion empire that crumbled due to alleged misuse of customer deposits to cover high-stakes bets by his hedge fund, Alameda Research.

According to Lewis, Bankman-Fried indulged in high-profile endorsements from celebrities like Tom Brady, Stephen Curry, and Larry David. Notably, Tom Brady received a jaw-dropping $55 million payment for a mere 20 hours of work per year over the course of three years.

These revelations have garnered significant attention as Bankman-Fried's trial unfolds in Manhattan. The disgraced cryptocurrency mogul has pleaded not guilty to the charges brought against him, while Lewis' account offers an intriguing glimpse into the extravagant financial dealings that led to his legal troubles.