- Taylor Swift’s alleged rejection of sponsorship negotiations with FTX, a bankrupt cryptocurrency exchange, has been debunked by informed sources.
- Contrary to earlier claims, Taylor Swift’s team was disappointed when the agreement was terminated by SBF, the CEO of FTX, after more than six months of negotiations.
- Swift’s decision to pursue legal action against FTX, unlike other celebrities who signed sponsorship deals, was not due to her rejecting a $100 million agreement.
Recent rumors suggesting that American superstar Taylor Swift declined a sponsorship deal with bankrupt cryptocurrency exchange FTX have been refuted by sources familiar with the matter, as reported by The New York Times. The article, published on July 6th, clarifies that the claims of Swift terminating sponsorship negotiations are unfounded.
Background
In a podcast released last April, Adam Moskowitz, who is engaged in a legal battle against celebrities who signed sponsorship agreements with FTX, alleged that Taylor Swift rejected a sponsorship deal worth $100 million. According to the claims, Swift inquired whether the products they sold to Sam Bankman-Fried (SBF), the CEO of FTX at the time, in the spring of last year were securities or not, and then walked away from the negotiations.
Public Reaction
Following the allegations, many social media users praised Swift’s business acumen and applauded her smart way of avoiding legal liability. Even renowned investor Elon Musk congratulated Swift on Twitter.
Contrary to Claims
However, sources speaking to The New York Times revealed that the situation unfolded differently from the claims. The sources disclosed that after more than six months of negotiations, the agreement was terminated by SBF, much to the disappointment of Swift’s team.
