Fans got excited at the news that a new song registration was spotted which seemingly linked the pair to a song titled Broken Hearts.
But those rumours have now seemingly been shut down, much to the disappointment of fans of the singers.
A source told E! online “there is no truth” to the collaboration.
And as of Sunday, the song no longer appeared on the Society of European Stage Authors and Composers – the site which the reported leak came from.
Adele, 33, hasn’t released any new music since her critically-acclaimed album called 25.
The Shake It Off singer, 31, on the other hand has been a lot more active and released the Grammy-award winning album Folklore during the pandemic.
Despite the lack of new song with the Rollin’ In The Deep vocalist, Taylor did release a collaboration single over the weekend.
The Grammy-winning artist showcased a piece called Renegade with Big Red Machine, which is a musical partnership between The National’s Aaron Dessner and Bon Iver’s Justin Vernon.
And Taylor, who co-wrote the song with Aaron, was full of praise for The National man.
She wrote on Instagram : “I can’t believe I get to work with Aaron Dessner. When Aaron came into my life, I was ushered into his world of free-flowing creativity where you don’t overthink, you just make music.
“His generosity of spirit and humility bleeds into every part of his life, and that’s why so many artists have jumped at the chance to be a part of his collaborative project, Big Red Machine.”
She concluded: “A song we wrote (which also features Justin Vernon) is out today! It’s called Renegade. Thanks Aaron for asking me to show up at your party.”
Aaron also took the time to comment on the collaboration.
“Making music with your friends just to make it — that’s how Big Red Machine started and has grown — and that’s how Renegade came about too,” he said.
“This song was something we wrote after we finished evermore and it dawned on us that this was a BRM song. Taylor’s words hit me so hard when I heard her first voice memo and still do, every time.”
He ended his comments: “The feeling and sound of this song feel very much at the heart of ‘How Long Do You Think It’s Gonna Last?’ I’m so grateful to Taylor for continuing to share her incredible talent with me and that we are still finding excuses to make music together.”
Big Red Machine’s full album How Long Do You Think It’s Gonna Last is currently available for pre-order before officially being released on August 27.