Why has celebrity coin become a thing in crypto?
Celebrity tokens are the types of memes we have seen in recent crypto cycles. In the past, celebrities and politicians did not want to get involved in cryptocurrency, let alone use their platforms to promote it.
Nowadays, all of these rappers, footballers, comedians, and public figures want to own their own token and even accept payment to shill criminal coins.
I suppose they tasted the money and liked it, so they want to keep doing it. Meme coins represent a direct shift from fundamentals to lack of fundamentals.
We all understand that in terms of use cases and functionality, a coin is simply a pump and dump, making crypto unique and undiluted.
I understand that we want mass adoption, but if we are bringing people into crypto without first teaching them the fundamentals, do we really need a bunch of degenerates who are only interested in pumping and dumping?
In Nigeria, a number of celebrities own their own native token.
You would think these guys are already wealthy, so what do they need native tokens for?
Perhaps if they were establishing projects that required coins for payment or a token that could be used for education and transactions, the situation would be completely different.
However, these guys only want unconventional money laundering schemes.
A type of celebrity GoFundMe, but they use cryptocurrency, so you would think they are doing you a favor. The fact that they use their influence adds to the diabolical nature of the situation.
CZ is in on it
A post of "no endorsement" is actually an endorsement
This morning, I saw a post by CZ Binance. He wanted to address the public by saying he wasn't endorsing any celebrity token built on the BNB chain, and when I decided to do my background checks, I discovered that, Ronaldinho, the popular footballer that played in the 90s is launching his own token (AKA memes)
This post is NOT an endorsement. It's a security reminder and disclaimer. (中文👇)
— CZ 🔶 BNB (@cz_binance) March 3, 2025
@10Ronaldinho's STAR10 coin was launched on @BNBChain EXCLUSIVELY.
Other chains' coins are fake. Beware of scammers.
Meme coins are highly volatile, and recent volumes have decreased… https://t.co/RVxHT5tStI
After looking at his tweet there was nothing really meaningful in what he wanted to achieve with the coin. Everything he said was all vibes and hype.
He did not talk about building a crypto project or what he intends to do with the coin, and I shook my head because I knew this was going to be another classic scam.
Celebrities are the fakest people out there
This guy made a lot of money playing football in the 1990s; they lived the good life, dated various types of women of all shapes and sizes, and drove expensive Lamborghinis.
So my question is, where is all that money from playing football for over 20 years?
My new one and ONLY OFFICIAL token is HERE! It’s time to celebrate greatness, passion, and that legendary spirit that NEVER fades 😎Legends are not born… THEY ARE FORGED. And YOU can choose to be a part of it. Get your $STAR10 NOW. Let’s make history together!… pic.twitter.com/91KbaXVmgS
— Ronaldinho (@10Ronaldinho) March 2, 2025
No background checks,just pamp it
He recently got caught up in a drug smuggling scheme, which his fellow footballers bailed him out of, and having all of this track record and still launching a coin on the BNB chain is insane. However, I am curious why CZ would agree to a scheme like this.
He (CZ) knows this will end in one way, but he still allowed it, despite a shady disclaimer that he is not endorsing Ronaldinho's coin.
If you properly disclaim, I believe you will not be involved in the coin in the first place, because the market is currently flooded with gullible people hoping to turn their $20 into $2 million.
100% of celebrity coins are scams, and except for $TRUMP, I have never seen one without the intention of rug pulling.
It is all classic scams.
In recent years, the most serious issue has been social media influence. People blindly copy influencers in everything, and this has slowly spread to crypto.
Fair enough, I saw a lot of comments in these posts warning people to avoid coins like this, so I suppose comments like this will help people decide what kind of decisions they want to make with their money.
Until we address these rugpull projects, crypto will continue to attract greedy people via scammy celebrities, influencers, and shallow-minded individuals.
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
Interested in some more of my posts
Why Is the grind getting harder?
Monopoly Is the Death of Civilization
Survival: Choas and Scarcity
Crypto: Gut & meaningful Connections
What is the primary barrier to entry in Web3?
What Are Some Things You Should not Do During A Bull Market Year?
Interesting article. How are you my brother.