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Celebs who got burned for supporting crypto and celebs who avoided it

Delbert Williams IIBy No Comments4 Mins Read

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Celebrities have had a volatile year promoting crypto-related companies and projects throughout 2022.

Many have since found their names in lawsuits over promoting the failed project, while others have been ruthlessly ridiculed on social media for their initial involvement.

From movie stars to TV actors, sports stars to musicians, many celebrities may regret last year’s sponsorship deals, but they weren’t without exception.

Who got burned?

Last February, American comedian Larry David, co-creator of the TV series Seinfeld, appeared in a Super Bowl commercial for the now-defunct cryptocurrency exchange FTX, telling users, Don’t miss the next big opportunity.”

David has since been named in a class action lawsuit alleging that, like other celebrities, he promoted FTX to ignorant investors without any due diligence on the exchange.

He is also being investigated by the Texas Securities Commission for payments received by FTX for his endorsement among other celebrities.

Meanwhile, movie star Matt Damon, known for his role in the “Bourne Identity” film series, continues to be ridiculed for participating in Crypto.com’s $100 million promotional campaign.

Damon was also satirized in the animated series South Park during its season 25 premiere in February 2022.

In the sports world, Japanese tennis player Naomi Osaka became an ambassador for FTX on March 21st.

Like Sainfield’s co-creators, Osaka has also been named in the lawsuit alongside other notable names who have endorsed FTX, including basketball legends Shaquille O’Neal and Stephen Curry and NFL quarterback Tom Brady.

Professional boxer Floyd Mayweather was also named in a crypto propaganda lawsuit in 2022 over promoting Ethereum Max, but the lawsuit was ultimately dismissed by a federal judge in December.

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In the music world, American rapper and hip-hop artist Snoop Dogg is credited with promoting the Bored Ape Yacht Club’s Non-Fungible Tokens (NFTs), along with other musicians such as Madonna, Justin Bieber, Post Malone and DJ Khaled. was named in a class action lawsuit. .

The lawsuit names more than 40 people and companies as defendants, including tennis pro Serena Williams, actress Gwyneth Paltrow, and comedians Jimmy Fallon and Kevin Hart.

who ran away

Interestingly, not all celebrity endorsements of cryptocurrency companies have been viewed negatively, nor have they attracted the scrutiny of class action lawyers.

On June 30, 2022, Binance announced that it had acquired popular TikTok personality Khaby Lame as an ambassador.

The deal was seen as positive for the cryptocurrency sector, as Lame’s ambassador deal is part of Binance’s mission to increase awareness and adoption of Web3 around the world.

Musician DJ Steve Aoki jumped into the world of NFTs when fantasy sports and sports betting operator DraftKings announced Hitmaker as a brand ambassador for the NFT marketplace.

Related: Tom Brady and other celebrities named in class action lawsuit against FTX

American rapper Eminem performed with Snoop Dogg at the VMAs, performing his NFT track “From The D 2 The LCD” featuring NFTs from Otherside and Bored Ape.

In the world of sports, David Beckham has become a global ambassador for blockchain company DigitalBits, launching his own series of NFTs in the process.

According to a January 2022 report in The New York Times, the DigitalBits founder has pleaded guilty to wrongdoing despite being accused in an investor lawsuit of “diverting funds necessary for development.” seems to have avoided

Meanwhile, football legend Lionel Messi has deals with Singapore-based Bitget, fantasy sports platform Sorare and digital fan token company Socios.com.

Cristiano Ronaldo’s foray into crypto sponsorship seems to have worked well for the community as well, with the launch of an exclusive NFT collection in partnership with Binance, where collectors can collect personal messages from Ronaldo, autographed merchandise and more. I gave you the opportunity to receive benefits.