•Taylor Swift reportedly turned down a $100 million sponsorship offer from now-bankrupt cryptocurrency exchange FTX due to concerns about unregistered securities.
•Adam Moskowitz, one of the attorneys leading a $5 million class-action lawsuit against 16 celebrity endorsers of FTX, revealed that Swift consulted her lawyer when approached by SBF.
•Elon Musk tweeted that Taylor is smart and her father is a well-regarded investment banker.
Taylor Swift Rejected Crypto Exchange FTX’s Sponsorship Offer
Taylor Swift, a pop icon and 12-time Grammy Award winner, reportedly turned down a $100 million sponsorship offer from the now-bankrupt cryptocurrency exchange FTX due to concerns about unregistered securities. A number of FTX celebrity endorsers are currently facing a class action lawsuit, including Shaquille O’Neal (Shaq), Tom Brady, and Larry David.
How Taylor Swift Avoided Partnering With FTX
Taylor Swift, a famous singer-songwriter who has won 12 Grammy Awards from 46 nominations, reportedly did due diligence on now-bankrupt cryptocurrency exchange FTX and turned down a sponsorship proposal from former FTX CEO Sam Bankman-Fried. Adam Moskowitz, one of the attorneys leading a $5 million class-action lawsuit against 16 celebrity endorsers of FTX revealed during an episode of the Block’s Scoop podcast that Swift took the step of consulting with her lawyer when approached by SBF in contrast to other celebrities who invested in FTX.
Class Action Lawsuit Against Celebrity Endorsers Of Ftx
Describing FTX as a “pyramid scheme”, Moskowitz along with former Weinstein lawyer David Boies filed a class action lawsuit in Florida alleging that the crypto exchanges celebrity endorsers promoted an “Ponzi scheme” which impacted “thousands if not millions” of consumers nationwide. Shaquille O’Neal (also known as Shaq), Tom Brady and Larry David are among those facing this class action lawsuit for endorsing sales of unregistered securities.
Elon Musk’s Comments On Taylor’s Decision To Avoid Ftx
Commenting on how Swift avoided involvement with FTX, Tesla and Twitter CEO Elon Musk who also turned down an offer from Bankman Fried when he wanted to invest in Twitter tweeted Wednesday: I’m not surprised Taylor is smart and her father is a well regarded investment banker Scott Kingsley Swift Taylors father founded The swift group which is part of Merrill Lynch BofA Global Wealth Management division providing wealth management services to clients since 1994.
In conclusion it appears that Taylor Swifts decision to consult her lawyers before taking any deal with Ftx allowed her to avoid being caught up in the current legal issues faced by many other celebrities associated with this company