The steep fall of FTX has also splashed celebrities who promoted the cryptocurrency exchange in exchange for large sums of money.
Shaquille O’Neal, Tom Brady, Stephen Curry, Larry David, among others, are being sued for more than $5 billion for promoting the company’s Sam Bankman-Fried.
Taylor Swift: How did she dodge the FTX mayhem?
One celebrity has been spared from all this trouble. Taylor Swift declined a potential $100 million deal to promote FTX.
Adam Moskowitz, the attorney behind the multimillion-dollar lawsuit, told “The Scoop” podcast that the celebrities involved did not check to see if they FTX broke some laws, except Taylor Swift.
FTX offered $100 million to promote itself on the tour of Taylor Swift in 2021. This would include selling tickets as NFTs.
The incredible offer, which did not go down well with some FTX employees at the time, was eventually rejected by Taylor Swift, following a key question, “Can you tell me these are not unregistered securities?”
FTTthe cryptocurrency of FTX was offered as a security, as it was supposedly an ‘investment’, but was not registered.
The end of FTX
FTX collapsed in November last year, losing billions of dollars.
Sam Bankman-Fried was extradited from The Bahamas and faces charges that could mean 100 years in prison.