Taylor Swift had been in discussions with FTX, a crypto exchange, regarding a sponsorship deal.
Despite public statements suggesting that the deal fell through due to concerns about unregistered securities, Swift actually signed an agreement with FTX.
The New York Times initially reported on the nature of the agreement, which contradicted the public messaging surrounding the failed deal.
According to a person familiar with the matter, the signed agreement was sent to FTX founder Sam Bankman-Fried's email, but it went unanswered for several weeks.
A group of FTX executives eventually convinced Bankman-Fried not to proceed with the reported $100 million deal.
The deal between Swift and FTX came after six months of negotiations.
The article implies that FTX's executives were responsible for pulling the plug on the agreement.
The specifics of the sponsorship deal between Swift and FTX were not disclosed in the article.
The article suggests that the public narrative surrounding the failed deal was not accurate.
It is not clear why FTX executives ultimately decided not to proceed with the deal, despite Swift's agreement and the months of negotiations.