One For The Money: FTX, Not Taylor Swift, Called Off Potential Crypto Endorsement Deal, Says Report

Contrary to prior reports suggesting that pop superstar Taylor Swift turned down an endorsement opportunity with FTX, the world's largest cryptocurrency exchange at the time, recent information from The New York Times paints a different picture.

The new report alleges that it was FTX and its founder, Sam Bankman-Fried (SBF), who backed out of the agreement after months of negotiations, not Swift.

The initial accounts had portrayed Swift as insightful for avoiding a partnership with a company later accused of defrauding its customers. However, this new information challenges those narratives. It claims that members of Swift's team were frustrated when FTX decided to terminate the potential collaboration.

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FTX And Celebrities: 

Seven-time Super Bowl champion Tom Brady was among the leading celebrity endorsers for FTX, even owning equity in the company with more than a million shares to his name. A group of customers who lost money investing with FTX is even suing Brady and his ex-wife Gisele Bündchen, seeking compensation from celebrities who endorsed the company.

FTX is not the only crypto company to use celebrities to help raise its public profile and entice new investors. Back in March, the SEC announced a lawsuit against a number of celebrities who endorsed the Tron crypto coin and exchange, including Jake Paul, Soulja Boy, Ne-Yo and more. 

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