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HomeCryptoTaylor Swift Dodges Crypto Disaster with One Smart Query

Taylor Swift Dodges Crypto Disaster with One Smart Query

The downfall of cryptocurrency exchange FTX has dominated the news since its bankruptcy filing in November 2022. Shortly afterward, the Securities Exchange Commission (SEC) filed a complaint against FTX executives, including investor Sam Bankman-Fried, because the company’s cryptocurrency was classified as a security but never registered as such.

Attorney Adam Moskowitz represents customers who lost money when FTX filed for bankruptcy, and his lawsuit includes celebrities who endorsed the product, such as Shaq, Tom Brady, and Larry David. But one name is notably absent from the suit: Taylor Swift.

During an episode of “The Scoop” podcast, Moskowitz revealed that the pop superstar was the only one to thoroughly investigate FTX before agreeing to any deal.

Swift reportedly asked FTX, “Can you tell me that these are not unregistered securities?” According to Moskowitz, Swift never promoted FTX and backed out of the deal upon not receiving a satisfactory response.

The deal in question was a $100-million tour sponsorship that included selling tickets as NFTs. Swift’s shrewd inquiry helped her avoid a lawsuit alleging that celebrity endorsements “made numerous misrepresentations and omissions” and another potential ticket debacle concerning her wildly popular Eras tour.

Swift’s discerning decision stands in stark contrast to other celebrities who agreed to deals with FTX, including NBA star Steph Curry, supermodel Gisele Bundchen, and Shaquille O’Neal. These three, along with several others, are now facing a class-action lawsuit accusing them of promoting a Ponzi scheme.

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