An attorney leading a class-action lawsuit against 16 celebrity FTX ambassadors said Taylor Swift asked a savvy question that others didn't.
You can check any preconceived notions that millennials lack financial acumen at the door. Pop superstar Taylor Swift apparently dodged a costly bullet regarding failed crypto exchange FTX by asking a simple question.
— Adam Moskowitz managing partner of Moskowitz Law Firm You can check any preconceived notions that millennials lack financial acumen at the door. Pop superstar Taylor Swift apparently dodged a costly bullet regarding failed crypto exchange FTX by asking a simple question. “You know, the one person I found that did that was Taylor Swift,” he said, referring to what he learned gathering evidence for the case — that Swift asked if she was getting involved with unregistered securities. Under state securities laws, he said, “if you promote an unregistered security for financial benefit, you are liable.”
“Every one of the FTX members was a part of the interest account, so you get money each month based upon loaning out your tokens and your money. The SEC has already ruled that these types of interest accounts are securities, because it’s money you’re lending them and you’re going to get a return based on the actions of others,” said Moskowitz.
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