Taylor Swift Approved $100 Million Sponsorship Deal with FTX Despite Previous Reports
According to the New York Times, music megastar Taylor Swift approved a sponsorship deal with crypto exchange FTX last year, contradicting previous reports that she had walked away after conducting her own due diligence. The deal, worth as much as $100 million, included potential sponsorship of a tour. After more than six months of discussions, Swift signed the agreement, but FTX founder Sam Bankman-Fried ultimately pulled out of the deal, leaving Swift’s team frustrated.
Key Points:
- Taylor Swift approved a sponsorship deal with FTX despite previous reports of her walking away.
- The deal was worth up to $100 million and potentially included sponsorship of a tour.
- FTX founder Sam Bankman-Fried ultimately pulled out of the deal, leaving Swift’s team disappointed.
- Swift had conducted her own due diligence on FTX, asking for proof that its cryptocurrencies were not unregistered securities.
- FTX’s decision to pull out of the deal was also reported by CNBC.
Hot Take:
Despite conducting her own due diligence and rejecting the deal initially, Taylor Swift’s approval of the $100 million sponsorship agreement with FTX shows her willingness to engage in high-profile partnerships. However, the disappointment caused by FTX founder Sam Bankman-Fried pulling out of the deal highlights the challenges faced by celebrities in the crypto space, where partnerships can be unpredictable and volatile.
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