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Taylor Swift (left) performs on stage for the first day of ‘Taylor Swift | . Former FTX CEO Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, will appear in federal court in Manhattan, New York City on February 16, 2023.
Getty Images | Reuters
After months of talks, Taylor Swift signed and agreed to a sponsorship deal with bankrupt cryptocurrency exchange FTX, a source told CNBC, after FTX executives signed the deal. Decided not to.
The nature of previously reported contracts new york times Thursday contradicted public messages about the nature of the failed FTX and Swift deal. In a public statement, the class counsel commended Swift’s due diligence efforts and said Swift asked the exchange to explain why its listed assets are not considered unregistered securities.
However, a source familiar with the matter told CNBC that Swift eventually agreed to the deal. The signed agreement was sent to FTX founder Sam Bankman-Fried’s inbox, but he didn’t hear back for “several weeks,” the person told CNBC. In a reported $100 million deal, he added that he persuaded Mann Fried not to comply.
Three other people familiar with the matter told The New York Times that Swift’s team signed a deal with FTX after six months of negotiations, and Bankman-Fried eventually backed out. rice field.
A person familiar with the matter requested anonymity due to ongoing federal and bankruptcy proceedings. The existence of a partnership between FTX and Swift was first reported by: financial times.
FTX filed for bankruptcy protection in November 2022. Bankman-Fried has been indicted on multiple federal charges, including fraud and campaign finance violations. Three other FTX executives, Gary Wang, Caroline Ellison and Nishad Singh, have pleaded guilty to various federal charges and are cooperating with the government’s prosecution of Bankman-Fried.