(AP Photo/George Walker IV)
With the implosion of the failed FTX cryptocurrency last fall, more news has come out about celebrities that narrowly avoided partnerships with the controversial company, including Taylor Swift.
FTX, one of the largest crypto exchange firms, collapsed last year over a mismanagement of funds. According to The New York Times, Swift was about to sign a sponsorship deal worth upwards of $100 million dollars before the FTX founder Sam Bankman-Fried who is now facing federal charges, called the whole thing off.
Two people close to the deal told the Times that Swift was on board for FTX to sponsor her currently in-progress tour after numerous other partnership ideas had been turned down.
Headlines from April 2023 reported that the deal fell apart after Swift asked a savvy question about the investment company, wanting proof that the the investments were not unregistered securities.
Contrary to those early reports, the Times has now confirmed that Swift and her team had actually signed the contract with FTX, a deal that took over six-months to negotiate — but it was Bankman-Fried who backed out at the last minute for unknown reasons.
According to the report, the last minute switch left Swift’s team frustrated.
Although Bankman-Fried has pleaded not guilty to federal charges of wire fraud and violation of finance law, he’s currently awaiting trial which is set for October.
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