American singer Taylor Swift stands out as one of the few celebrities who diligently researched now-defunct cryptocurrency exchange FTX before partnering with them, according to lawyer Adam Moskowitz. 

What Happened: Moskowitz has filed a $5-billion class action lawsuit against FTX’s celebrity endorsers, including Shaquille O’Neal, Tom Brady, and Larry David, accusing them of promoting the sale of unregistered securities. 

Moskowitz, in a podcast episode with The Block’s The Scoop, claims that the exchange’s celebrity endorsers failed to conduct due diligence to determine whether they were breaking the law by promoting FTX.

Taylor Swift, who was reportedly close to signing a $100-million sponsorship deal with FTX, asked if the securities were registered before entering the partnership, according to Moskowitz.

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“The one person I found that did that was Taylor Swift. In our discovery, Taylor Swift actually asked them, ‘Can you can you tell me that these are not unregistered securities?'” Moskowitz said.

Swift’s partnership with FTX never materialized. 

Moskowitz is leading several class action lawsuits against the promoters of major cryptocurrency companies, including FTX and Voyager Digital. Moskowitz’s law firm also filed a class action against influencers who promoted Binance, the world’s largest crypto exchange, in March. 

The lawsuit targeting FTX’s celebrity promoters had been delayed for months as the firm struggled to serve O’Neal with official notice of the lawsuit. 

Photo: Courtesy of Wikimedia Commons

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