Taylor Swift’s $ 100 million agreement with an exchange of bankruptcy crypto

Taylor Swift signed a lucrative touring partnership with FTX before its collapse, but FTX backed out of the deal, according to a person familiar with the discussions.
Had the deal gone through, the “Bad Blood” singer could have joined a legion of celebrities who backed cryptocurrency products in recent years and are now facing missing paydays and legal troubles in light of the high-profile implosion. from FTX last fall.
Swift’s failed deal with the Sam Bankman-Fried cryptocurrency exchange made headlines in April when, in a podcast appearance, Adam Moskowitz, a lawyer representing clients suing FTX’s celebrity backers, said he discovered that Swift refused to sign an endorsement deal with FTX due to her questions. about whether the crypto exchange-traded in unregistered securities.
Taylor Swift
Taylor Swift was on the verge of promoting FTX via a touring partnership.

Bankman-Fried has been accused of orchestrating one of the largest financial frauds in US history, allegedly costing investors billions of dollars and misusing client funds from its cryptocurrency exchange. , FTX.
Last month, Bankman-Fried pleaded not guilty to all 13 charges brought against him by federal prosecutors, including wire fraud and conspiracy to commit money laundering.
But a person familiar with Swift’s discussions said the artist’s side had reached a $100 million ($150 million) tour endorsement deal, but the deal never closed due to doubts on the part of FTX.
Moskowitz did not respond to CNN’s request for comment, but told the New York Times that he “had no inside information about the conversations.”

illustration the FTX logo
In this photo illustration the FTX logo and mobile app adverts are displayed on screens on November 10, 2022 in London, England. (Leon Neal via Getty Images)

In December, the Financial Times reported that the deal would have incorporated NFT into Swift’s tour ticketing deal, but fell through after some FTX employees lobbied the company’s founder and CEO, Sam Bankman-Fried, to remove sponsorship due to its high price.
Taylor Swift’s representatives declined to comment.
Other celebrities including Tom Brady, Gisele Bundchen, Steph Curry and Naomi Osaka have signed deals with FTX, which filed for bankruptcy last fall.

Swift would have become one of a number of celebrities to sign a deal with FTX, including Tom Brady and Steph Curry.

Brady and Bundchen also had holdings in FTX that were likely disposed of entirely.
Celebrities who have backed FTX and other cryptocurrency projects in recent years, including Jimmy Fallon, Madonna and Kim Kardashian, have found themselves under legal scrutiny and accused of lending credibility to the risky crypto products they promoted.
Kim Kardashian was indicted by the Securities and Exchange Commission last year and agreed to pay a $1.3 million ($1.96 million) fine for promoting a crypto asset called Ethereum Max and failing to disclose that she was paid $250,000 ( $377,000). ) for promotion.

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