The sponsorship deal between defunct cryptocurrency exchange FTX and Taylor Swift was reportedly called off at the request of former CEO Sam Bankman-Fried (SBF), and not the singer-songwriter, as many reports have suggested.
According to a July 6 report from The New York Times citing three individuals with knowledge of the sponsorship deal, Bankman-Fried was the one responsible for dropping a roughly $100 million agreement with Swift prior to FTX filing for bankruptcy. Swift’s team had reportedly signed the agreement after more than six months of negotiations but was frustrated and disappointed when SBF pulled the plug.
This story originally appeared on Investing
