Taylor Swift approved a sponsorship deal with FTX, despite previous reports.

According to the New York Times, music superstar Taylor Swift approved a sponsorship deal with the now bankrupt cryptocurrency exchange FTX last year, despite previous reports suggesting that she had walked away after conducting her own investigation into the company.

In the spring of 2022, Taylor Swift discussed a potential deal with FTX worth up to $100 million, which could have included sponsorship of a tour.

After more than six months of negotiations, Swift signed the sponsorship agreement with FTX. However, FTX founder Sam Bankman-Fried ultimately backed out of the deal, leaving Swift’s team frustrated and disappointed, according to sources cited by the New York Times.

Previously, a lawyer who is suing celebrities for endorsing FTX had claimed on a podcast that Swift had conducted due diligence on the crypto exchange, demanding proof that its cryptocurrencies were not unregistered securities. This led to Swift rejecting the deal and received praise for her business acumen.

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Taylor Swift’s management has not yet responded to a request for comment regarding this story.

CNBC also reported that FTX had withdrawn from the deal, citing a source familiar with the matter.

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Edited by Nelson Wang.