Pop icon and 12-time Grammy Award winner Taylor Swift declined a $100 million sponsorship offer from now-bankrupt cryptocurrency exchange FTX due to concerns about unregistered securities The company has reportedly Many of FTX’s celebrity endorsers are currently facing class action lawsuits, including Shaquille O’Neal (Shaq), Tom Brady, and Larry David.
Why Taylor Swift avoided partnering with FTX
Taylor Swift, the famous singer-songwriter who has won 12 Grammy Awards from 46 nominations, has reportedly done her due diligence on the now bankrupt cryptocurrency exchange FTX and turned down a sponsorship proposal from FTX’s former CEO Sam Bankman-Fried FTX filed for Chapter 11 bankruptcy last November.
Adam Moskowitz, one of the attorneys leading FTX’s $5 million class action lawsuit against 16 celebrity backers, said on an episode of the Block’s Scoop podcast that, in contrast to other celebrities who invested in FTX, Swift, when approached by SBF revealed that he took the step of consulting a lawyer.
“The person I found (who spoke to a lawyer) was Taylor Swift.” Moskowitz shared, adding:
In our discovery, Taylor Swift actually asked them: how can you be sure this is not an unregistered security?”
Bankman-Fried, who is facing multiple fraud charges in the U.S., reportedly actively lobbiedfor a partnership with Swift. The partnership cost the bankrupt crypto company more than $100 million over three years.
Moskowitz, who described FTX as a “Ponzi scheme,” along with former Weinstein attorney David Boies, filed a Florida A class action lawsuit was filed.” Shaquille O’Neal (also known as Shaq), Tom Brady, and Larry David are among the FTX celebrity promoters facing a class action lawsuit filed by Moskowitz for encouraging the sale of unregistered securities.
Regarding Swift’s avoidance of involvement with FTX, Tesla and Twitter CEO Elon Musk alsoturned down an offer from Bankman Fried when the former FTX executive wanted to invest in Twitter,tweeting on Wednesday:
I’m not surprised. Taylor is smart and his father is a reputable investment banker.
Taylor’s father, Scott Kingsley Swift, founded The Swift Group, an asset management and financial advisory group under Merrill Lynch, a subsidiary of Bank of America. Taylor has repeatedly marveled at his father’s passion for his work. From the early age of eight, when his classmates aspired to be astronauts and ballerinas, Taylor knew he wanted to follow in his father’s footsteps and become afinancial advisor. What do you think about