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Don’t mess with Tay-Tay when it comes to financial regulation.
A class-action lawsuit is targeting some celebrities, including Shaquille O’Neal and Tom Brady, for allegedly promoting scandal-plagued crypto exchange FTX without first doing their homework.
But the lawyer spearheading the suit, Adam Moskowitz, told “The Scoop” podcast that Taylor Swift was the exception when it came to due diligence.
“The one person I found that did that was Taylor Swift,” Moskowitz said.
Swift reportedly was approached by FTX in 2021 to partner on her upcoming tour.
Moskowitz recalled: “In our discovery, Taylor Swift actually asked them, ‘Can you tell me that these are not unregistered securities?’”
A security is defined as a tradeable asset that reflects value. Think stocks and bonds.
All U.S. securities must be registered with financial authorities.
The Securities and Exchange Commission filed a complaint against FTX last year alleging that the company was offering securities without registering them.
In other words, Swift not only did her due diligence, she wasn’t shy about confronting the crypto company about its practices.
Maybe that shouldn’t be surprising. Swift’s father worked in finance, so it seems some lessons rubbed off on the future Pop Goddess.
She apparently was unimpressed by whatever FTX had to say in response to her query about unregistered securities.
Swift pulled out of the negotiations and had nothing more to do with the company.
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