Taylor Swift avoided the FTX debacle by simply asking some questions

March 19, 2024

While I arguably have a reputation as a “Taylor Swift hater,” there are legitimately parts of Taylor Swift’s life and business which I admire greatly. She is, in my opinion, one of the savviest businesswomen in the music industry. Does she have great advisors? Sure. But Taylor has shown us time and time again that she’s in those meetings, she’s negotiating for herself, and she knows her own worth. Not only that, she’s not afraid to say that she doesn’t know something or to ask questions. Which brings me to this: Taylor managed to avoid FTX, unlike dozens of other celebrities. As it turns out, Taylor was the only one in those meetings asking the right questions.

Taylor Swift’s inquisitiveness saved her from jumping on the doomed FTX bandwagon. More than a dozen celebrities, including NBA star Stephen Curry, NFL player Tom Brady, supermodel Gisele Bündchen, tennis legend Naomi Osaka, and popular TV show Seinfeld co-creator Larry David are named in a November 2022 class action lawsuit filed in Miami. The complaint blames FTX and its paid brand ambassadors for actively participating in the “offer and sale of unregistered securities in the form of yield-bearing accounts,” as well as abetting fraud “designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.”

Swift avoided getting dragged in FTX’s collapse because the singer did her due diligence, and asked one important question: “Can you tell me that these are not unregistered securities?”, according to South Florida attorney Adam Moskowitz. Moskowitz, one of the lawyers representing the plaintiffs in the class action lawsuit, discussed the case in this week’s episode of The Block’s The Scoop podcast.

$100 billion: How much FTX was willing to pay the celebrated singer-songwriter. They had reached the late stages of negotiating a sponsorship deal a little before the crypto exchange crumbled last November. A report in Rolling Stones cites an anonymous source saying Swift “would not, and did not, agree to an endorsement deal,” but smaller-scale partnerships, like a ticketing arrangement involving NFTs for her Eras Tour, was on the table. But she turned that down, too.

[From Yahoo]

I’m sorry, they offered her $100 BILLION to endorse FTX? That alone would have made me sit up and ask some questions, because that number makes zero sense. Hey, Taylor, will you endorse Celebitchy as a blog for eleventy trillion dollars? What’s that?? You want to see if I actually have the money? ZOINKS! Still, it’s sad to see the list of names of celebrities who didn’t even do even a cursory investigation into what was going on. Good for Swift for avoiding it entirely. And she avoided the NFT sh-t too! LOL.

Photos courtesy of Backgrid.

Dusseldorf, GERMANY – Celebrities attend the 2022 MTV EMAs at the PSD Bank Dome in Dusseldorf, Germany. Pictured: Taylor Swift BACKGRID USA 13 NOVEMBER 2022 USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*

Las Vegas, NV – “Taylor Swift | The Eras Tour” at Allegiant Stadium on March 24, 2023 in Las Vegas, Nevada. Pictured: Taylor Swift BACKGRID USA 24 MARCH 2023 BYLINE MUST READ: MediaPunch / BACKGRID USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*

Dallas, TX – American singer-songwriter Taylor Swift performs at AT&T Stadium in Arlington, Texas Pictured: Taylor Swift BACKGRID USA 31 MARCH 2023 USA: +1 310 798 9111 / usasales@backgrid.com UK: +44 208 344 2007 / uksales@backgrid.com *UK Clients – Pictures Containing Children Please Pixelate Face Prior To Publication*

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