- Ronaldinho’s post got 2.2M views and 3.4k retweets.
- ZachXBT accused Ronaldinho of promoting pump-and-dump schemes.
- High-profile crypto endorsements raise concerns about exploiting fan trust.
Brazilian football legend Ronaldinho has called for cryptocurrency to go mainstream, sparking speculation of a potential token or coin launch.His brief but impactful statement on social media garnered over 2.2 million views and more than 3.4k retweets, igniting curiosity within the crypto community.
Although he did not mention any token launches, the tactic clearly generated curiosity and attention. However, some in the crypto community, ZachXBT in particular who is a well-known on-chain sleuth, retorted:
“Is this a translation that you are bankrupt again?”
ZachXBT’s sharp critique continued. He delved into Ronaldinho’s history of promoting various cryptocurrency projects labeled as ‘pump and dump’ schemes. To substantiate his claim, ZachXBT pointed out several projects the footballer promoted over the years, questioning their integrity and sustainability.
Ronaldinho’s endorsement isn’t the first time celebrities have leveraged the crypto space to launch projects and tap into the frenzy. Recently, Australian rapper Iggy Azalea drew attention with the launch of the MOTHER token on the Solana blockchain. MOTHER reached a market cap of $200 million, with a 90% price surge in just 24 hours.
Politicians have also jumped in on the bandwagon, launching namesake tokens to attract the tech-savvy voters. However, the continued involvement of high-profile figures in various crypto projects raises questions about their motivations and impact on unsuspecting investors.
Some see these endorsements as a pathway to mainstream adoption, while others view them as opportunistic ventures that exploit the trust of their fans.
As the conversation about crypto endorsements evolves, both celebrities and their audiences must approach these promotions with caution and awareness. The crypto market’s volatility requires informed decision-making to avoid the pitfalls of potentially misleading endorsements.
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