SEC Files Charges In Crypto Scam Shilled By Seagal
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Apparently not really. We have found only one thriving crypto business endorsed by a celebrity - Gwyneth Paltrow, of all people, endorsed the Abra wallets. Other than that celebrity endorsement has been a guarantee for failure. Floyd Mayweather, Paris Hilton, DJ Khaled, John McAfee, Luis Suarez, Lothar Matthäus, Gianluca Zambrotta, Jamie Foxx, The Game, Tommy Haas, T.I. have all lent their names to a failing or flailing ICO or token-based business. For some of them it ended in a fine or prosecution for hiding the fact they were paid for their endorsment.
There is one interesting plot twist though - crypto businesses, which celebrities invested in are often doing quite well. These include e.g. Coinbase or Bitpay.
So if a crypto project you're looking at is backed by a celebrity, it might make sense to check if the endorser is really putting his money where his mouth is.
For more about the Seagal-endorsed scam check out Decrypt.