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News

Taylor Swift’s Alleged Partnership With FTX Raises Questions Amidst Scandal

July 6, 2023 - Around 3 mins mins to read

Key Points:

  • Taylor Swift reportedly had a partnership deal with FTX crypto exchange, despite previous denials.
  • FTX CEO Sam Bankman-Fried decided not to proceed with the deal.
  • The agreement contradicts earlier explanations, and Bankman-Fried is facing criminal charges.
In a surprising turn of events, recent reports suggest that Taylor Swift may have been involved in a partnership deal with the now-defunct FTX crypto exchange, despite previous public denials.
Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

Sources familiar with the matter have disclosed with CNBC that the popstar had agreed to a collaboration, only for it to be thwarted by former FTX CEO Sam Bankman-Fried, who is currently embroiled in legal troubles.

Contradicting earlier statements made by a class-action attorney, it appears that Swift did, in fact, entertain the idea of a partnership. The signed agreement was allegedly sent to Bankman-Fried’s email inbox, where it languished unanswered for several weeks. Eventually, a group of FTX executives reportedly convinced Bankman-Fried to abandon the proposed $100 million deal, painting a markedly different picture from the narrative surrounding Swift’s supposed withdrawal.

Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

The nature of the agreement, which was initially reported by The New York Times, challenges the public messaging surrounding the failed FTX-Swift deal. Previously, a high-profile attorney had praised Swift’s due diligence efforts and claimed that she rejected the deal after questioning FTX about the status of its listed assets as unregistered securities. However, multiple sources, speaking anonymously due to ongoing legal proceedings, revealed that Swift’s team signed the deal after six months of negotiations, with Bankman-Fried ultimately halting its progression.

Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

FTX’s subsequent filing for bankruptcy in November added further complications to the unfolding narrative. Bankman-Fried now faces criminal charges related to alleged fraud and money laundering, while three other FTX executives have pleaded guilty to federal charges and are cooperating with the government’s prosecution.

The existence of an FTX-Swift partnership was first reported by The Financial Times, introducing an intriguing twist to an already convoluted situation. As the story develops, more information is likely to emerge, shedding light on the true extent of Taylor Swift’s involvement with FTX and the reasons behind its ultimate collapse.

Please note that the aforementioned information is based on current reports and sources, but it is always advisable to consult trusted news outlets for the most up-to-date and accurate information.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Crypto Exchange

FTX

partnership deal

Sam Bankman-Fried

Taylor Swift

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Taylor Swift’s Alleged Partnership With FTX Raises Questions Amidst Scandal

Key Points:

  • Taylor Swift reportedly had a partnership deal with FTX crypto exchange, despite previous denials.
  • FTX CEO Sam Bankman-Fried decided not to proceed with the deal.
  • The agreement contradicts earlier explanations, and Bankman-Fried is facing criminal charges.
In a surprising turn of events, recent reports suggest that Taylor Swift may have been involved in a partnership deal with the now-defunct FTX crypto exchange, despite previous public denials.
Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

Sources familiar with the matter have disclosed with CNBC that the popstar had agreed to a collaboration, only for it to be thwarted by former FTX CEO Sam Bankman-Fried, who is currently embroiled in legal troubles.

Contradicting earlier statements made by a class-action attorney, it appears that Swift did, in fact, entertain the idea of a partnership. The signed agreement was allegedly sent to Bankman-Fried’s email inbox, where it languished unanswered for several weeks. Eventually, a group of FTX executives reportedly convinced Bankman-Fried to abandon the proposed $100 million deal, painting a markedly different picture from the narrative surrounding Swift’s supposed withdrawal.

Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

The nature of the agreement, which was initially reported by The New York Times, challenges the public messaging surrounding the failed FTX-Swift deal. Previously, a high-profile attorney had praised Swift’s due diligence efforts and claimed that she rejected the deal after questioning FTX about the status of its listed assets as unregistered securities. However, multiple sources, speaking anonymously due to ongoing legal proceedings, revealed that Swift’s team signed the deal after six months of negotiations, with Bankman-Fried ultimately halting its progression.

Taylor Swift's Alleged Partnership With FTX Raises Questions Amidst Scandal

FTX’s subsequent filing for bankruptcy in November added further complications to the unfolding narrative. Bankman-Fried now faces criminal charges related to alleged fraud and money laundering, while three other FTX executives have pleaded guilty to federal charges and are cooperating with the government’s prosecution.

The existence of an FTX-Swift partnership was first reported by The Financial Times, introducing an intriguing twist to an already convoluted situation. As the story develops, more information is likely to emerge, shedding light on the true extent of Taylor Swift’s involvement with FTX and the reasons behind its ultimate collapse.

Please note that the aforementioned information is based on current reports and sources, but it is always advisable to consult trusted news outlets for the most up-to-date and accurate information.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.