Taylor Swift's FTX Partnership Falls Through
Taylor Swift had reportedly signed and agreed to a sponsorship deal with FTX, a bankrupt crypto exchange, after months of discussions. However, executives at FTX decided not to proceed with the deal, according to a source familiar with the matter.
Contrary to public messaging, which highlighted Swift’s due diligence and concerns about unregistered securities, the source revealed that Swift did, in fact, agree to the deal. The signed agreement was sent to FTX founder Sam Bankman-Fried’s email but went unanswered for several weeks. Eventually, a group of FTX executives convinced Bankman-Fried to back out of the reported $100 million deal.
Three other sources confirmed that Swift’s team had signed the deal after six months of negotiations, with Bankman-Fried ultimately pulling the plug.
The source requested anonymity due to ongoing federal and bankruptcy proceedings. The existence of the FTX-Swift partnership was initially reported by The Financial Times. FTX filed for bankruptcy protection in November 2022, and Bankman-Fried is facing multiple federal charges, including fraud and campaign finance violations.
Three other sources confirmed that Swift’s team had signed the deal after six months of negotiations, with Bankman-Fried ultimately pulling the plug.
The source requested anonymity due to ongoing federal and bankruptcy proceedings. The existence of the FTX-Swift partnership was initially reported by The Financial Times. FTX filed for bankruptcy protection in November 2022, and Bankman-Fried is facing multiple federal charges, including fraud and campaign finance violations.
