Sam Bankman-Fried is in knee-deep trouble after the FTX bankruptcy due to crypto crisis.
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The executives were adamant not to spend lavishly on celebrity clout, but he was strongly lobbying for a Taylor Swift deal.
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The Taylor Swift deal was estimated to have costed the company $100 million for next three years. But, the deal did not go ahead.
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The executives predicted that the deal would have proved fatal amidst the dwindling business environment.
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Sam had a mammoth vision for a two-year old company. He spent huge amount on sponsorships and had celebrities like Shaq O'Neal, Tom Brady, and others to be the brand ambassadors.
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He had a vision to make and sell the Non-Fungible Tokens (NFTs) digitally. There was less to no clarity on Swift's role in the entire deal.