Taylor Swift, FTX Had a Massive Fallout Before Its Collapse, According to a New Report The singer narrowly escaped what could have been the loss of millions of dollars.
By Emily Rella
Key Takeaways
- A new report suggests it was FTX, not Taylor Swift who axed a potential $100 million deal with the disgraced crypto exchange.
- Swift's team has not yet commented on the report.
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The collapse of FTX affected dozens of celebrities and public figures who had invested in (and advertised for) the platform including Tom Brady, Kim Kardashian and Shaq.
Several of the influencers and celebrities involved with the company are being sued in a class-action lawsuit that's estimated to amount to up to $5 billion.
But one celebrity who reportedly remained unscathed was Taylor Swift — until now.
In a podcast appearance in April, Adam Moskowitz, an attorney involved in the class action suit, said Swift was interested in a massive deal with the platform but pulled out at the last minute after asking the right questions. "In our discovery, Taylor Swift actually asked them, 'Can you tell me that these are not unregistered securities?'" he said at the time.
Media outlets then called her a finance wiz. But now, new reporting from several outlets suggests Swift and her team actually did sign on to a $100 million deal to sponsor her Eras Tour, and FTX is the one that canceled the deal.
Taylor Swift performs onstage at Paycor Stadium (Getty Images)
Swift's proposed deal with FTX would have reportedly included using NFTs in her ticketing for the show, something that she and her team have been highly criticized over due to long wait times and exorbitant resale prices that have left many fans unable to attend her shows.
The Eras Tour is estimated to gross an astounding $1 billion by its end, having already grossed roughly $300 million in the first 22 dates.
Per the New York Times, disgraced FTX founder Sam Bankman-Fried made the decision to drop Swift after nearly six months of working out a deal because of its hefty price tag and hesitation on behalf of Bankman-Fried's end. The report did not go into further detail about what precisely caused FTX to pull out.
Swift's team has not yet commented on the report.
