Taylor Swift Rejected Crypto Trade FTX’s Sponsorship Provide Over Unregistered Securities Issues

Taylor Swift, a pop icon and 12-time Grammy Award winner, reportedly turned down a $100 million sponsorship supply from the now-bankrupt cryptocurrency alternate FTX resulting from issues about unregistered securities. Quite a few FTX celeb endorsers are at present dealing with a category motion lawsuit, together with Shaquille O’Neal (Shaq), Tom Brady, and Larry David.

How Taylor Swift Prevented Partnering With FTX

Taylor Swift, a well-known singer-songwriter who has gained 12 Grammy Awards from 46 nominations, reportedly did due diligence on now-bankrupt cryptocurrency alternate FTX and turned down a sponsorship proposal from former FTX CEO Sam Bankman-Fried. FTX filed for Chapter 11 bankruptcy in November of final 12 months.

Adam Moskowitz, one of many attorneys main a $5 million class-action lawsuit towards 16 celeb endorsers of FTX revealed throughout an episode of the Block’s Scoop podcast that Swift took the step of consulting together with her lawyer when approached by SBF, in distinction to different celebrities who invested in FTX.

“The one particular person I discovered that [talked to their lawyers] was Taylor Swift,” Moskowitz shared, including:

In our discovery, Taylor Swift truly requested them: ‘Are you able to inform me that these will not be unregistered securities?’

Bankman-Fried, who’s dealing with a number of fraud fees within the U.S., reportedly lobbied aggressively for a partnership with Swift. The partnership would have price the bankrupt crypto firm greater than $100 million over three years.

Describing FTX as a “pyramid scheme,” Moskowitz, together with former Weinstein lawyer David Boies, filed a class-action lawsuit in Florida alleging that the crypto alternate’s celeb endorsers promoted a “Ponzi scheme,” which impacted “1000’s, if not thousands and thousands, of shoppers nationwide.” Shaquille O’Neal (also called Shaq), Tom Brady, and Larry David are among the many FTX celeb promoters who’re dealing with a class-action lawsuit filed by Moskowitz for endorsing gross sales of unregistered securities.

Commenting on how Swift prevented involvement with FTX, Tesla and Twitter CEO Elon Musk, who additionally turned down a proposal from Bankman-Fried when the previous FTX govt wished to spend money on Twitter, tweeted Wednesday:

I’m not shocked. Taylor is wise and her father is a well-regarded funding banker.

Scott Kingsley Swift, Taylor’s father, based the Swift Group, a wealth administration and monetary advisory group that’s a part of Merrill Lynch, a Financial institution of America firm. Taylor has expressed her admiration for her father’s ardour for his work on a number of events. Even on the younger age of eight, when her friends aspired to change into astronauts or ballerinas, Taylor wished to comply with in her father’s footsteps and change into a financial adviser.

What do you consider pop icon Taylor Swift caring about unregistered securities when approached by the disgraced FTX co-founder Sam Bankman-Fried? Tell us within the feedback part beneath.