Celebrities and crypto? Nothing new about that, right? Ever since Brock Pierce—who as a child starred in the Walt Disney movie, The Mighty Ducks—co-founded Blockchain Capital, in 2013, some of the world’s most famous humans, from Donald Trump to Lindsay Lohan, have leaned into crypto to see what was in it for them.

Some celebrities were able to use their glitzy names to pump existing crypto projects, with predictable results. The SEC brought actions in a dozen cases over the past decade, ranging from Kim Kardashian to Floyd Mayweather Jr., who were fined over their promotional activities. Celebs were also among the many people tarnished in the FTX scandal that practically brought down the crypto industry.

So celebrities being a part of crypto—not new. What is new, and became a dominant theme last year, was the advent of the celebrity meme coin. As meme coins replaced NFTs as the degen’s favorite way to gamble, the celebrity meme coin emerged, with nearly a dozen stars launching their own coins in the past year.

These influencers are not just promoting the coins, they’re actually creating coins in their own image, promoting them and, in some cases, trying to find businesses around them. For better—and, far more common, for worse.

Traditional investors often believe that Bitcoin investors have high risk

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Author: Ryan Gladwin