based on the reports, Cryptocurrency exchange FTX was in the final stages of negotiating an endorsement deal worth more than $100 million with pop star Taylor Swift before pulling out..
Former FTX CEO and co-founder Sam Bankman-Fried, who is currently awaiting trial, pulled out of the deal after Swift was signed, according to a report from The New York Times.. A last-minute change of plans obviously left Swift’s part.”Frustrated and disappointed“.
The Block first reported in April that it was Swift who actually backed out of the deal, citing comments by Adam Moskovitz, the attorney currently organizing a class action lawsuit against celebrity supporters of FTX. According to him, Swift has exercised “due diligence” in determining whether cryptocurrency tokens are unregistered securities.
The New York Times reported that Moskowitz later retracted his statements, claiming that he lacked inside information about Swift’s actions or dealings.
FTX, known for its various high-profile partnerships with celebrities and athletes such as NFL star Tom Brady, went bankrupt in November last year due to a liquidity crunch that prevented it from paying customer deposits.
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