It seems that global music sensation, Taylor Swift, wasn’t too swift to dismiss the crypto opportunity with FTX, the now-defunct crypto exchange. The New York Times disclosed that contrary to previous chatter, Swift had agreed to a lucrative sponsorship deal with FTX last year.
As early as spring 2022, the pop princess was in dialogue about a partnership with FTX. The potential $100 million agreement could have even led to the sponsorship of Swift’s tour. After an intense half-year negotiation, Swift put pen to paper. However, it appears that the crypto world’s drama can rival even the most heated Hollywood feuds. FTX’s founder, Sam Bankman-Fried, backed out at the last minute, leaving Team Taylor in a state of frustration and disappointment.
Speculation was ripe that Swift had walked away from the deal post due diligence. It was reported that she had demanded proof from FTX that its cryptocurrencies weren’t unregistered securities – a move that earned her applause for her business acumen. A legal eagle, who’s currently suing celebrities for endorsing FTX, fueled this narrative on a popular podcast.
While Swift’s team remained tight-lipped, CNBC also confirmed the same story: FTX had indeed broken off the deal. The script, it seems, flipped in the crypto world, leaving Taylor’s fanbase to wonder, “What would’ve been?”