According to several sources, Taylor Swift pulled out of a $100 million sponsorship deal with FTX, a now-bankrupt crypto exchange. A lawyer suing celebrities for promoting FTX says Swift alone asked about unregistered securities. In a comment by Adam Moskowitz, managing partner at the Moskowitz Law Firm and one of the attorneys leading a class-action lawsuit against 16 celebrity FTX endorsers, he said, “In our discovery, Taylor Swift actually asked [FTX], ‘Can you tell me that these are not unregistered securities?'”. By asking this simple question, Swift apparently sidestepped a costly bullet regarding the failed crypto exchange FTX. It is unclear why FTX was unable to provide a satisfactory answer to Swift’s question, but it is clear that she was the only celebrity endorser to ask about unregistered securities.
What other celebrities promoted FTX?
According to the search results, several celebrities promoted FTX, including NFL quarterback Tom Brady, comedian Larry David, and supermodel Gisele Bündchen. They are being sued by U.S. crypto investors for promoting FTX yield-bearing digital currency accounts, which were allegedly unregistered securities that were unlawfully sold in the United States. The lawyer suing the celebrities for promoting FTX also mentioned that Taylor Swift was asked to sign a $100 million sponsorship deal with FTX but pulled out because she was the only one to ask about unregistered securities.