Taylor Swift Did Her Homework on FTX, Dodged a Bullet, Says Lawyer Suing Tom Brady, Shaq

According to the lawyer suing the now-bankrupt crypto exchange’s celebrity advocates, Taylor Swift was one of the few celebrities who completed their due diligence on FTX.

In a class action case, attorney Adam Moskowitz has sued Shaquille O’Neal, Tom Brady, Larry David, and more than a dozen other FTX marketers for peddling unregistered securities. 

In The Scoop podcast with Frank Chaparro, Moskowitz stated the lawsuit seeks $5 billion. He alleges FTX’s celebrity backers didn’t check for legal violations before cutting TV and internet commercials. 

Taylor Swift did it. “Can you tell me that these are not unregistered securities?” Taylor Swift asked them in our finding. Moskowitz said. Swift almost signed a $100 million sponsorship deal with FTX, but it fell through. Swift did not immediately comment.

Moskowitz is organizing many class action cases against promoters of prominent crypto startups, including FTX and Voyager Digital, which went bankrupt. The Moskowitz Law Firm sued Binance influencers on March 31. 

The action against FTX celebrity promoters was blocked for months while the firm tried to provide O’Neal with legal notice of the lawsuit. Despite O’Neal’s popularity on “The NBA on TNT” and as a touring DJ, it took three months and process servers in numerous states to find him. “The largest man on Earth, we can’t serve,” Moskowitz remarked. “I’ve never had this issue in 35 years of class action work.”

To serve O’Neal, Moskowitz filed a complaint with the Central Florida sheriff’s office, where he is a deputy. The office allegedly cashed Moskowitz’s $50 check but didn’t serve O’Neal. “They cashed our $50 and said, ‘Sorry, we haven’t been able to serve him,’” Moskowitz said. O’Neal didn’t immediately comment.

The class action lawsuit alleges that O’Neal and other celebrities promoted unregistered securities. The plaintiffs are employing a broad Florida legislation that forbids the advertising of unregistered securities without requiring deception.  “You promote an unregistered security for financial benefit, you are liable for all rescissory damages,” Moskowitz added. 

After FTX filed for bankruptcy in November, O’Neal stated he’s keeping away from crypto. Class action lawyer Moskowitz hopes celebrities and influencers be more careful about promoting crypto companies in the future.

Why would you promote an unregistered security like cryptocurrency? “That’s incomprehensible,” Moskowitz remarked. “Many influencers promoted this. However, be practical. I can’t reach 1,000 yet. You target the biggest ones.”