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Singer Taylor Swift was one of the few artists to turn down an offer of US$ 100 million to be a promoter of the exchange FTX, at least that’s what said the lawyer Adam Moskowitz, who moves a joint action against celebrities who publicized the company.
As pointed out by InsiderMoskowitz claimed on “The Scoop” podcast that Swift was the only artist (to her knowledge) who questioned whether the securities sold by the company were registered with the United States Securities and Exchange Commission (SEC).
- Lessons investors can learn from the FTX bankruptcy.
The cryptocurrency exchange went bankrupt in November 2022 after a liquidity crisis. Sam Bankman-Fried, its former CEO, was charged with fraud by the SEC for diverting client funds to his own hedge fund, Alameda Research LLC.
But the actress’s wit with the capital market is not exclusive to the Swift family. The singer’s father, Scott Swift, has a long-standing relationship with the American bank Merrill Lynch.
His relationship with Merrill Lynch began in 1966, still as a customer, according to the bank’s description. At the time, the investor wasn’t even a graduate yet — he went on to graduate from the University of Delaware’s College of Business in 1974.
It was in 1980 that he began to work professionally in finance, with the position of financial advisor. He was responsible for founding the “Swift Group”, a wealth management advisory team — today, Scott is described on the bank’s website as a senior relationship manager.