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Celebrities Have Joined Cryptocurrencies - When Crypto And Famous Meets

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Celebrities have joined cryptocurrencies as their popularity has soared in recent years. Celebrities often do weird things, if you have read The HOOK you will noticed that our beloved celebrities are such strange people also when doing business.

Celebrities Have Joined Cryptocurrencies

A complaint was filed earlier this month in California accusing Kim Kardashian, Floyd Mayweather, and former NBA player Paul Pierce of leveraging their notoriety to "pump" a little-known cryptocurrency called EthereumMax as part of a wider scheme to enrich themselves and defraud investors.

The complaint against Mayweather is the second time the boxer has been criticized for allegedly making false claims about cryptocurrencies.

Mayweather and music producer DJ Khaled were both charged in 2018 by the Securities and Exchange Commission for failing to disclose money they received for advocating investments in initial coin offerings.

COPYRIGHT_WI: Published on https://washingtonindependent.com/ebv/celebrities-have-joined-cryptocurrencies/ by William Willis on 2022-11-14T07:43:03.720Z

The faces of well-known people like Prince Harry and Meghan Markle, Bill Gates, Mark Zuckerberg, and Sir Richard Branson have been exploited by fraudsters to advertise phony bitcoin endorsement schemes without their consent (BTC-USD).

Due to this, celebrity endorsements of cryptocurrencies are more open to criticism because uninformed investors rush to buy risky products because celebrities they look up to are into them. It explains why Matt Damon's cryptocurrency advertisement became a joke online.

In light of the surge in celebrity endorsements and advertisements, the UK's financial authority has announced steps to limit the marketing of crypto assets and other high-risk products.

The number of well-known figures advocating cryptocurrency to their millions of audience members is expanding, despite accusations of illegal activity regarding such advertising and greater public and regulatory scrutiny.

The following celebrities have used their names to promote crypto, in no particular order:

Gwyneth Paltrow

Gwyneth Paltrow, an Academy Award-winning actress and the creator of Goop, recently gave away $500,000 in bitcoin to her 2.7 million Twitter followers. The declaration follows her recent involvement in a $200 million debt and equity fundraising round for Tera Wulf, a cryptocurrency mining startup that seeks to manufacture bitcoin entirely from renewable energy sources.

Witherspoon, Reese

Reese Witherspoon, an Academy Award-winning actress, first made waves in the cryptocurrency world in September 2017 when she revealed she had bought Ethereum (ETH-USD). This month, however, she posted a tweet on the digitization of the "near" future that left admirers perplexed.

Paris Hilton

In addition to conducting events in the metaverse, Paris Hilton has frequently stated her interest in digital assets, such as cryptocurrencies and NFTs. On "The Tonight Show Starring Jimmy Fallon," she has also previously praised NFT technology.

Kim Kardashian

Are you guys into crypto? Kim Kardashian posed this question to her 250 million Instagram followers in a post from last summer before highlighting a little-known coin called EthereumMax. A complaint has been filed against the promotion, alleging that Kardashian and the other celebrities involved used it as a way to make money.

Matt Damon

The following advertisement (see below) was released this month as part of a global marketing campaign run by Crypto.com, featuring Matt Damon as its face. Concerns that Damon's message in the advertisement was inciting young investors to invest in high-risk crypto assets led to criticism of the advertisement.

Jamie Foxx

When he backed the token sale of Cobinhood, a free cryptocurrency trading platform, actor Jamie Foxx became one of the first famous people to advocate cryptocurrencies in 2017.

Charli D'Amelio

In May, as part of a relationship with the platform, TikTok star Charli D'Amelio's family Instagram account shared a picture with a comment thanking Gemini, a cryptocurrency exchange, for giving her a bitcoin gift for her birthday.

Mike Tyson

Following his recent declaration that he was "all in" on the cryptocurrency Solana (SOL-USD), Mike Tyson asked his 5.7 million Twitter followers how high they anticipated the price of the cryptocurrency to rise.

Floyd Mayweather

In a lawsuit brought this month in California, boxing star Floyd Mayweather was charged with using his notoriety to "pump" a little-known cryptocurrency called EthereumMax as part of a broader money-making plan. Mayweather was accused of failing to disclose funds he received for pushing investments in initial coin offerings by the Securities and Exchange Commission in 2018.

Tom Brady

On his social media channels, Tom Brady has actively pushed cryptocurrency. He and his wife, the supermodel Gisele Bündchen, were part of a $20 million ad campaign for the cryptocurrency exchange FTX.

Elon Musk in a Black suit painting
Elon Musk in a Black suit painting

People Also Ask

Who Is Famous For Crypto?

Ellon Musk. The main proponent of cryptocurrencies, particularly Bitcoin and Dogecoin, is Elon Musk, the founder and CEO of Tesla. Additionally, Musk has the greatest impact on the cryptocurrency market. His 52.2 million Twitter followers are to thank for this.

Which Famous People Have Bitcoin?

There are numerous other famous people associated with this coin. Some of them are Mike Tyson, 50 Cent, Paris Hilton, Gwyneth Paltrow, Bill Gates, Serena Williams, Floyd Mayweather, and Kanye West. Although there are no specifics about their investments, we can be certain that they were profitable.

What Crypto Did Kim Kardashian Endorse?

On Monday, the U.S. Securities and Exchange Commission said that reality TV star Kim Kardashian paid $1.26 million to settle claims about how she promoted the digital asset EthereumMax online.

Conclusion

Celebrities have joined cryptocurrencies and non-fungible tokens at a rate previously seen only with viral dance fads. The creatives among them are adamant that soon our real reality will mirror the fictitious one they have spent their entire careers imagining.

After all, it has been suggested that NFTs could alter the entire idea of art. What do you think about famous people investing in cryptocurrency?

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About The Authors

William Willis

William Willis - William Willis is a freelance writer and social media manager who specializes in assisting finance professionals and Fintech entrepreneurs in growing their online audience and attracting more paying customers. William worked as a bank teller and virtual assistant for financial firms in the United States and the United Kingdom for six years before beginning her writing career. William is a strong force in the workplace, inspiring others to work hard and excel with his optimistic attitude and boundless energy. He enjoys hiking, crocheting, and playing video games with his children in his spare time.

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