Taylor Swift Managed To Dodge The FTX Promo Bullet, Says Lawyer — And Elon Musk Isn't Surprised

American singer Taylor Swift stands out as one of the few celebrities who diligently researched now-defunct cryptocurrency exchange FTX before partnering with them, according to lawyer Adam Moskowitz. 

What Happened: Moskowitz has filed a $5-billion class action lawsuit against FTX’s celebrity endorsers, including Shaquille O'Neal, Tom Brady, and Larry David, accusing them of promoting the sale of unregistered securities. 

Moskowitz, in a podcast episode with The Block's The Scoop, claims that the exchange’s celebrity endorsers failed to conduct due diligence to determine whether they were breaking the law by promoting FTX.

Taylor Swift, who was reportedly close to signing a $100-million sponsorship deal with FTX, asked if the securities were registered before entering the partnership, according to Moskowitz.

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"The one person I found that did that was Taylor Swift. In our discovery, Taylor Swift actually asked them, ‘Can you can you tell me that these are not unregistered securities?'" Moskowitz said.

Swift's partnership with FTX never materialized. 

Musk Responds: Twitter chief Elon Musk stated on Wednesday that he was not surprised by Swift's choice of not associating herself with FTX. “Taylor is smart and her father is a well-regarded investment banker,” Musk tweeted.
Taylor's father, Scott Swift is an investment banker and was a former stock broker with Merrill Lynch who purchased a 3% stake for a reported $300,000 of the independent label Big Machine Records, the label that first signed his daughter.

Moskowitz is leading several class action lawsuits against the promoters of major cryptocurrency companies, including FTX and Voyager Digital. Moskowitz’s law firm also filed a class action against influencers who promoted Binance, the world’s largest crypto exchange, in March. 

The lawsuit targeting FTX’s celebrity promoters had been delayed for months as the firm struggled to serve O’Neal with official notice of the lawsuit. 

Photo: Courtesy of Wikimedia Commons

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Posted In: CryptocurrencyNewsAdam MoskowitzElon MuskFTXShaquille O’NealTaylor SwiftTom Bradytwitter
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