TheCorporateCounsel.net

April 20, 2023

FTX: Taylor Swift “Knew You Were Trouble”

I’m not a big fan of Taylor Swift’s music, but I’m a huge fan of her judgment.  In contrast to all the celebs who were highly compensated shills for FTX & have ended up on the receiving end of lawsuits from investors stung by the company’s collapse, The Daily Beast reports that Swift had the brains to ask a few questions before accepting a staggering $100 million offer from FTC to do the same:

Swift was reportedly in talks for a contract worth more than $100 million for Sam Bankman-Fried’s business in the months leading up to FTX’s monumental collapse in November, but the partnership never came to fruition—unlike deals the exchange signed with the likes of Tom Brady, Shaquille O’Neal, Larry David, and others. Attorney Adam Moskowitz, who is now handling a class action lawsuit against FTX’s celebrity promoters, claimed the defendants failed to actually look into the legality of what the company was doing before signing up to big money partnerships. “The one person I found that did that was Taylor Swift,” Moskowitz said on The Scoop podcast. “In our discovery, Taylor Swift actually asked them, ‘Can you tell me that these are not unregistered securities?’”

Ultimately, Swift’s due diligence paid off, because she turned down the offer & isn’t on the receiving end of a class action lawsuit. So now, her brand’s intact, and she can look all the Swifties out there in the eye & say that she turned down a fortune from FTX because “I knew you were trouble.”

This has nothing to do with the securities laws, but since I’m blogging about Taylor Swift I thought I’d point you in the direction of this brand new Duke Law Journal article provocatively titled “Murder and Money: The Dark Side of Taylor Swift.”  If that’s not clickbait, I don’t know what is.

John Jenkins