Taylor Swift didn't sign $100 million FTX sponsorship because she was the only one to ask about unregistered securities, lawyer says

Taylor Swift began discussing a $100 million-tour sponsorship with FTX in the fall of 2021, per the Financial Times.

Highlights

Lawyer says Taylor Swift pulled out of a $100 million-tour sponsorship deal with FTX because she was the only celebrity to question the crypto exchange’s legality.
Lawsuit claims celebrities didn’t do their due diligence to check whether FTX was breaking the law.
The SEC said the company’s cryptocurrency, FTT, is classified as a security because it was sold as an investment contract.
The crypto exchange imploded last November after concerns that the commingling of funds with its sister firm, Alameda, led to mass-customer withdrawals.
It didn’t have enough money to fulfill that demand, partly due to lavish spending and a $65 billion line of credit, lawyers said.

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