Did Taylor Swift reject Tom Brady-endorsed FTX? Report reveals fresh details from $32 billion crypto collapse
Tom Brady became one of the faces of FTX Trading Ltd. in its early stages. He was one of the highest investors and an ambassador, participating in commercials and other advertisement campaigns. Apparently, FTX also initially targeted Taylor Swift for a similar role, but things didn't go their way.
Many reports have previously indicated that Taylor Swift rejected the offer to join FTX as an ambassador. A recent story from the New York Times reveals a surprisingly different version of what allegedly happened.
Here's their new spin on how the events went down that led Swift to be uninvolved with FTX:
"Mr. Moskowitz said on a podcast in April that Ms. Swift had conducted due diligence on FTX, asking the exchange to prove that its cryptocurrencies were not unregistered securities. His comments led to a flurry of headlines about Ms. Swift’s business acumen. But in an interview with The New York Times, Mr. Moskowitz said he had no inside information about the talks."
"In reality, Ms. Swift’s side signed the sponsorship agreement with FTX after more than six months of discussions, three people with knowledge of the deal said, and it was Mr. Bankman-Fried who pulled out. The last-minute reversal left Ms. Swift’s team frustrated and disappointed, two of the people said."
"A spokeswoman for Ms. Swift declined to comment."
Taylor Swift's not joining FTX worked out for her in the end. The company recently declared bankruptcy after founder Sam Bankman-Fried was connected to a massive fraud scandal for allegedly misappropriating billions of dollars. He's facing federal felony charges for the allegations.
How much money is Tom Brady losing in the FTX scandal?
While Tom Brady is not being charged with anything criminally for his involvement with the company, he has reportedly taken a huge financial loss, including his investment and is facing lawsuits for his role. He reportedly owned more than a million shares of the FTX common stock, worth approximately $45 million. With the company officially declaring bankruptcy, he's not expected to recover any of those funds.
While Brady took a massive risk with his aggressive investment in FTX, he wasn't the only professional athlete to do so. Other big names, including Trevor Lawrence, Stephen Curry, and Shohei Ohtani, were also involved. Luckily, Brady's stout $300 million net worth will make bearing the losses more manageable.