> Swift avoided getting dragged in FTX’s collapse because the singer did her due diligence, and asked one important question: “Can you tell me that these are not unregistered securities?”, according to South Florida attorney Adam Moskowitz. Moskowitz, one of the lawyers representing the plaintiffs in the class action lawsuit<p>I do not for a second believe that Taylor Swift herself asked this literal question. It is a summarization of the due diligence her team performed, as paraphrased by the attorney charging everyone else.<p>Take it with a grain of salt - this whole guy's legal case rides on the implication that all of the defendants knowingly had a duty to perform due diligence. And so proving that some celebrities like Taylor Swift backed out - not because of money or scheduling but because they understood that they were trading securities illegally - is important to his case.<p>Personally, I come down on the side of the defendants on this one. When Larry David was hired to do a superbowl commercial for FTX, how much was he <i>really</i> expected understand about securities law? Could we really argue he was in on the fraud? If he did a superbowl commercial for Chipotle we wouldn't expect him to perform his own health inspections.
Why isn't the SEC going after the politicians that accepted donations from FTX?<p>Did those politicians ask any questions at all or just happily recieve the money, no questions asked, wink wink
But wait. The downfall of FTX had nothing to do with selling unregistered securities. It had all to do with placing the wrong bets and having weak/non-existent risk controls. Also quite likely, even outright embezzlement.
I wonder if Larry David's commercial was written in such a dismissive / negative joking way because it would be easier to avoid litigation? "I wasn't promoting it, I was on the ad saying I wasn't going to invest..."
So the secret sauce is not to promote or invest in any crypto related?<p>Also of all the crypto companies FTX looked the more legitimate one, with their political connections, pushing for regulation...
I was expecting the reason to be that she met FTX Founder Sam and decided to not go with the vegan effective-altruist pay-your-politician crowd<p>Smart girl
> I mean, why would you possibly promote cryptocurrency if it may be an unregistered security?<p>I have no idea what that means one way or another. But if someone with backers like FTX at their height of their game came and asked me to promote them for a lot of money, I probably would assume they were legit.
Hijack, as a famous people resell your likeness for any kind of whacky fake scammy endorsements, but make a TOS that make you not responsible of any wrongdoing of using ur likeness<p>With AI tools this is doable already. If you're famous and need plausible denaibility to promote the next FTX just hit me up<p>lol
Clickbait article misattributes this to Taylor herself, when in reality this was caught by her father, a financial advisor of 30 years at Merrill Lynch.