Taylor Swift reportedly had reservations about a potential $100 million sponsorship deal with cryptocurrency exchange FTX, which ultimately folded last November. Attorney Adam Moskowitz, who is leading a $5 million class action lawsuit against FTX and celebrity spokespeople Shaquille O’Neal, Tom Brady, and Larry David, among others, revealed on “The Scoop” podcast that Swift was one of the only celebrities to do due diligence while considering a deal with the company. Moskowitz said that Swift asked FTX if their investments were legal, specifically if they were registered securities. Unregistered securities, like FTX was determined to have been selling, are not subject to the same laws and protections as those under SEC oversight, leaving their investors vulnerable to financial fraud. Moskowitz added that Swift was the “one person” who pressed FTX on the legality of their investments. Swift’s father, Scott Swift, previously worked for Merrill Lynch, and the artist is worth a reported $570 million. FTX’s former CEO, Sam Bankman-Fried, was arrested in the Bahamas in December 2022, accused of wire fraud, securities fraud, conspiracy and money laundering. If convicted on all charges, he could face up to 115 years in prison.
Taylor Swift predicted FTX's collapse