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Insider: Taylor Swift reportedly agreed to a $100 million collaboration with FTX, but SBF called it off in the end

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Insider: Taylor Swift reportedly agreed to a $100 million collaboration with FTX, but SBF called it off in the end

The bankrupt exchange FTX, which once had endorsements from many celebrities during its heyday, such as American football player Tom Brady, baseball player Shohei Ohtani, basketball player Stephen Curry, investor Kevin O'Leary, etc., eventually suffered a tarnished reputation due to the collapse of FTX. Renowned American singer Taylor Swift was rumored to have been in talks with FTX in the past, with a price tag as high as $100 million, but Taylor Swift had no intention to collaborate with FTX, leading to a breakdown in negotiations. The New York Times described the incident as "Taylor Swift Successfully Avoids Crypto Disaster."

However, according to sources who spoke to CNBC, Taylor Swift's team had actually agreed to a $100 million partnership with FTX, and it was the senior management at FTX who ultimately convinced SBF to call it off.

Truth Reversed? Taylor Swift Reportedly Agreed to $100 Million Deal with FTX

According to sources familiar with the matter who spoke to CNBC, after months of discussions, Taylor Swift agreed to the sponsorship deal, but FTX executives ultimately decided not to proceed with the transaction.

This contradicts the information reported by The New York Times. The report even mentioned that the collective lawsuit lawyer praised Taylor Swift's team for conducting due diligence and stated that Taylor Swift asked FTX to explain why the listed assets would not be considered securities.

Sources mentioned that in reality, after six months of negotiations, Taylor Swift did agree to the deal, but SBF never responded to the agreement emails. It was the FTX executives who convinced SBF to terminate the $100 million deal.

Taylor Swift's $740 Million Fortune Dodges a Bullet

According to Forbes estimates, Taylor Swift's net worth reaches $740 million this year. Regardless of whether FTX or Taylor Swift agreed to the deal at the time, at least the outcome was that Taylor Swift narrowly avoided a potential issue.