Last year, Taylor Swift approved a sponsorship deal with bankrupt cryptocurrency exchange FTX.
In the spring of 2022, Swift was in talks with FTX about a deal worth $100 million (approximately ¥14 billion, at a conversion rate of 140 yen to the dollar), and could even sponsor the tour.
According to The New York Times, Swift struck a sponsorship deal with FTX after more than six months of talks, but FTX founder Sam Bankman-Fried eventually pulled out of the deal. Sources say the decision left Swift’s team frustrated and disappointed.
A lawyer suing a celebrity who promoted FTX previously said on a podcast that Swift did its due diligence on FTX and asked, “Could you say these[crypto assets that were listed on FTX]weren’t unregistered securities?” , said it led to him refusing to sign with FTX.
The statement led to several articles praising Swift’s business acumen.
Also Read: What Taylor Swift Taught Me About Investing: The Questions That Turned Down FTX Offers
We’ve reached out to Taylor Swift’s management company for comment, but have yet to hear back.
The news that FTX, not Swift’s side, has pulled out of the deal was also reported by CNBC, citing people familiar with the matter.
｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
| Image: Taylor Swift (Shutterstock)
｜Original: Taylor Swift Approved Sponsorship Deal With FTX, Despite Previous Reports: NYT