Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Business

Taylor Swift agreed to FTX partnership, but the crypto exchange bailed, source tells CNBC

by July 7, 2023
July 7, 2023
Taylor Swift agreed to FTX partnership, but the crypto exchange bailed, source tells CNBC

Taylor Swift signed and agreed to a sponsorship deal with bankrupt crypto exchange FTX after months of discussion before executives at FTX decided not to go through with the deal, a person familiar with the matter told CNBC.

The nature of the agreement, previously reported by The New York Times on Thursday, contradicts public messaging about the nature of the failed FTX-Swift deal. Public statements by a class-action attorney lauded Swift’s due diligence efforts and said that the artist asked the exchange to explain why its listed assets were not considered unregistered securities.

But Swift did ultimately agree to the deal, the person familiar with the matter told CNBC. The signed agreement was sent to FTX founder Sam Bankman-Fried’s email inbox, where it remained unanswered for a period of a few weeks, the person told CNBC, adding that ultimately, a group of FTX executives persuaded Bankman-Fried not to follow through with the reported $100 million deal.

Three other sources familiar with the matter told The New York Times that Swift’s team signed the deal with FTX after six months of negotiations, and that Bankman-Fried ultimately pulled the plug.

The person familiar with the matter asked to be kept anonymous due to ongoing federal and bankruptcy proceedings. The existence of an FTX-Swift partnership was first reported by The Financial Times.

A person familiar with the negotiations and who requested anonymity because they were not authorized to speak said FTX wanted Swift to endorse them by doing commercials, interviews and promotional events on their behalf, like other celebrities were doing at that time — but she would not agree to endorse FTX. Negotiations were narrowed down to a tour sponsorship deal. That’s why the deal was never finalized, the source said.

FTX filed for bankruptcy protection in November 2022. Bankman-Fried faces multiple federal charges, including fraud and campaign finance violations. Three other FTX executives — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to various federal charges and are cooperating with the government’s prosecution of Bankman-Fried.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Earnings, Inflation, Yield Curve & July Reset
next post
Galan Lithium

Related Posts

Homebuyers and sellers face an uncertain wait for...

November 3, 2023

Home prices soar even higher in February, despite...

May 2, 2024

Walmart-backed fintech One introduces buy now, pay later...

April 25, 2024

What’s at stake as the FTC tries to...

February 29, 2024

Credit card balances jump and are above $1...

August 10, 2023

T-Mobile sued after employee stole nude images from...

November 19, 2023

Silver lining for consumers: Food price growth has...

May 15, 2024

New inflation data to reveal consumer strength amid...

October 12, 2023

The U.S. economy grew at a 3.3% pace...

January 27, 2024

Amazon Prime Video viewers will have to pay...

December 29, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • How I Triple My Returns With 3x Leveraged ETFs!

    • How to Find Compelling Charts in Every Sector

    • EVs Now Emit 73 percent Less Than Gasoline Cars Over Their Lifetime, Says ICCT Study

    • Cygnus Metals Limited: Issue of Performance Rights

    • FPX Nickel Announces Share-Based Compensation Grant

    • Blue Lagoon Resources Officially Opens Dome Mountain Gold Mine in British Columbia

    Categories

    • Business (1,287)
    • Investing (2,662)
    • Politics (3,699)
    • Stocks (1,711)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved