Taylor Swift agreed to FTX partnership, but the crypto exchange bailed, source tells CNBC

Taylor Swift signed and agreed to a sponsorship woody with bankrupt crypto speech FTX aft months of treatment earlier executives astatine FTX decided not to spell done with the deal, a idiosyncratic acquainted with the substance told CNBC.

The quality of the agreement, antecedently reported by The New York Times connected Thursday, contradicts nationalist messaging astir the quality of the failed FTX-Swift deal. Public statements by a class-action lawyer lauded Swift's owed diligence efforts and said that the creator asked the speech to explicate wherefore its listed assets were not considered unregistered securities.

But Swift did yet hold to the deal, the idiosyncratic acquainted with the substance told CNBC. The signed statement was sent to FTX laminitis Sam Bankman-Fried's email inbox, wherever it remained unanswered for a play of a fewer weeks, the idiosyncratic told CNBC, adding that ultimately, a radical of FTX executives persuaded Bankman-Fried not to travel done with the reported $100 cardinal deal.

Three different sources acquainted with the substance told The New York Times that Swift's squad signed the woody with FTX aft six months of negotiations, and that Bankman-Fried yet pulled the plug.

The idiosyncratic acquainted with the substance asked to beryllium kept anonymous owed to ongoing national and bankruptcy proceedings. The beingness of an FTX-Swift concern was archetypal reported by The Financial Times.

FTX filed for bankruptcy extortion successful November 2022. Bankman-Fried faces aggregate national charges, including fraud and run concern violations. Three different FTX executives — Gary Wang, Caroline Ellison and Nishad Singh — person pleaded blameworthy to assorted national charges and are cooperating with the government's prosecution of Bankman-Fried.