Are celebs join the latest crypto craze (again) by promoting memecoins?  

Between Copa América games, Lionel Messi recently appeared to promote a memecoin to his half-billion Instagram followers. The coin’s price 4x’d after Messi’s post. The soccer icon’s just the latest celeb to endorse memecoins, highly speculative crypto tokens that tend to thrive on online hype and community. Caitlyn Jenner, Jason Derulo, and rapper Rich the Kid have all launched memecoins, which are down about 40 to 90% from their peaks. They and other celebs have said they were lured into promoting coins that Rich the Kid called “pump and dump” schemes. Other stars have denied involvement in memecoins linked to them


Lionel Messi Promotes Obscure Meme Coin on Instagram, Leading to 350% Surge

Are celebs join the latest crypto craze (again) by promoting memecoins?    Between Copa América games, Lionel Messi recently appeared to promote a memecoin to his half-billion Instagram followers. The coin’s price 4x’d after Messi’s post. The soccer icon’s just the latest celeb to endorse memecoins, highly speculative crypto tokens that tend to thrive on online hype and community. Caitlyn Jenner, Jason Derulo, and rapper Rich the Kid have all launched memecoins, which are down about 40 to 90% from their peaks. They and other celebs have said they were lured into promoting coins that Rich the Kid called “pump and dump” schemes. Other stars have denied involvement in memecoins linked to them  https://www.coindesk.com/markets/2024/07/09/lionel-messi-promotes-obscure-meme-coin-on-instagram-leading-to-350-surge/

Nate

a federal judge in Florida has let FTX’s celebrity endorsers — a list that includes Tom Brady, his ex Gisele Bündchen, Kevin “Mr. Wonderful” O’Leary, Larry David, Steph Curry, and many others — off the hook, legally speaking. Judge K. Michael Moore ruled that there’s insufficient proof that any of these influencers knew about the corruption and skullduggery going on behind the scenes at FTX, or that they had any intent to defraud investors.

https://www.theverge.com/policy/663502/ftx-celebrity-lawsuit-tom-brady-gisele-kevin-o-leary-steph-curry?_bhlid=2bab8d3a40d4b953929c7fc31d8a11c4eefc8f9b

a federal judge in Florida has let FTX’s celebrity endorsers — a list that includes Tom Brady, his ex Gisele Bündchen, Kevin “Mr. Wonderful” O’Leary, Larry David, Steph Curry, and many others — off the hook, legally speaking. Judge K. Michael Moore ruled that there’s insufficient proof that any of these influencers knew about the corruption and skullduggery going on behind the scenes at FTX, or that they had any intent to defraud investors.  https://www.theverge.com/policy/663502/ftx-celebrity-lawsuit-tom-brady-gisele-kevin-o-leary-steph-curry?_bhlid=2bab8d3a40d4b953929c7fc31d8a11c4eefc8f9b

The plaintiffs can try again with more evidence.

Judge dismisses most charges against FTX’s celebrity boosters

Sam Mendoza

Last week fans poured funds into “Doja” coins after artist Doja Cat’s X account posted about them — only for the singer to say she’d been hacked. Hulk Hogan also told his followers to disregard posts that his account is said to have made promoting “Hulk” coins.

Cyril

Driving the surge is a boom in meme coins (like costco hotdog). As solana-based tokens including bonk and dogwifhat grew to multibillion-dollar market caps, more and more folks tried to get in on the action. Sites like Pump.fun, which lets anyone quickly and cheaply launch their own meme coin, have added to the frenzy.
https://sherwood.news/crypto/a-costco-hot-dog-memecoin-is-trying-to-hit-usd1-50/

Driving the surge is a boom in meme coins (like costco hotdog). As solana-based tokens including bonk and dogwifhat grew to multibillion-dollar market caps, more and more folks tried to get in on the action. Sites like Pump.fun, which lets anyone quickly and cheaply launch their own meme coin, have added to the frenzy. https://sherwood.news/crypto/a-costco-hot-dog-memecoin-is-trying-to-hit-usd1-50/

There are two trucks parked outside CoinDesk’s Consensus crypto conference in Austin this week. One is promoting Robert F. Kennedy’s presidential...

A Costco hot dog memecoin is trying to hit $1.50

Water Coin spiked nearly 40% one hour after Ronaldinho mentioned it in an Instagram post, but it has since settled below its pre-pump price.

https://cointelegraph.com/news/ronaldinho-messi-promote-crypto-water-memecoin

Water Coin spiked nearly 40% one hour after Ronaldinho mentioned it in an Instagram post, but it has since settled below its pre-pump price.  https://cointelegraph.com/news/ronaldinho-messi-promote-crypto-water-memecoin

Soccer legend Ronaldinho Gaúcho has promoted the Solana memecoin “Water Coin” a day after Lionel Messi did.

Ronaldinho joins Messi in promoting water-themed Solana memecoin

Tasia

Nearly half a million memecoins were minted on the solana blockchain in May, and celebs hopped on the trend. It’s not their first crypto go-round. In 2017, when bitcoin’s value 20x’d, public figures like Paris Hilton and Jamie Foxx promoted new coins launching on the blockchain, aka “initial coin offerings.” Then, around 2021 (the same year a “Bored Ape” NFT sold for $3.4M) to 2022, Jake Paul, DJ Khaled, and David Dobrik promoted NFTs that turned out to be “rug pulls” (meaning the project’s creators vanished after taking investors’ money).

https://www.theblock.co/post/298200/solana-saw-nearly-half-a-million-tokens-launched-last-month

Nearly half a million memecoins were minted on the solana blockchain in May, and celebs hopped on the trend. It’s not their first crypto go-round. In 2017, when bitcoin’s value 20x’d, public figures like Paris Hilton and Jamie Foxx promoted new coins launching on the blockchain, aka “initial coin offerings.” Then, around 2021 (the same year a “Bored Ape” NFT sold for $3.4M) to 2022, Jake Paul, DJ Khaled, and David Dobrik promoted NFTs that turned out to be “rug pulls” (meaning the project’s creators vanished after taking investors’ money).  https://www.theblock.co/post/298200/solana-saw-nearly-half-a-million-tokens-launched-last-month

With success stories like popular memecoins dogwifhat and bonk, everyone wants to be the one to create the next big thing.

Nate

A group of likeminded people in Crypto are talking about this.