Top 10 Celebrity Crypto Fails

filippo ucchino Filippo Ucchino calendar Last Updated: July 2022 timer 5 Min Read

Crypto has exploded over the past few years with people making massive returns on investment by investing in assets like Bitcoin and Ethereum as well as digital art projects or NFTs.

When there is money to be made, people flock to the scene, more importantly, celebrities flock to the scene.

All you need to do is look at Twitter and Instagram to realise that being a Crypto Influencer is the new big thing! Everyone from A-list movie actors to YouTubers who have millions of subscribers are promoting cryptocurrency coins and NFT Projects all over their social media.

However, do these celebrity-endorsed projects actually make investors money?

We looked at the top influencers promoting these massive projects to see how they perform post endorsements to answer that exact question.

Kim Kardashian “Not Financially Advising” On  EthereumMax

Kim Kardashian Profile

In June of 2021, the multi-millionaire internet sensation Kim Kardashian took to Instagram to share “what her friends told her” about the crypto coin EthereumMax, which is actually just using the Ethereum name and is not at all affiliated with the Ethereum Coin.

Of course, Kim made sure to highlight that this was an ad by adding ‘ #ad’ to the very end of the post.

Kim K EthereumMax Chart

After the promotion in June, the cryptocurrency shot up in value but crashed the following month. It’s safe to say that Keeping Up With Ethereum Max won’t be airing anytime soon.

Is Gwyneth Paltrow The Face Of Females In Crypto?

Gwyneth Paltrow

The Hollywood actress, who starred in iconic movies such as Se7en, Iron Man and The Talented Mr. Ripley, has always expressed an interest in the business world, especially in recent years with her wellness and lifestyle brand Goop.

Gwyneth has also dipped her toes into the world of NFTs, purchasing a Bored Ape NFT and promoting the World of Women NFT project this year. She also appeared at the BFF crypto summit alongside Mila Kunis and Mark Zuckerberg’s sister Randi to encourage more women to get into crypto and NFTs.

Floyd Chart

Whilst encouraging more women to get involved in this industry is great, some of the promoted NFT projects are very volatile and unpredictable – maybe people should think twice before taking financial advice from Hollywood stars.

DJ Khaled’s Promoted Crypto Project Sees Co-Founder in Jail

DJ Khaled profile

DJ Khaled has never been shy with his social media usage – his Instagram has everything from music promotion to motivational content.

One notable post was his Centra debit card post which promoted Centra Tech, one of the first cryptocurrency card makers to release a co-branded card with VISA, to his 29 Million followers.

Unfortunately, the project did not last long and resulted in investors losing out on a combined $25 million – the Co-founder also got8 years in jail. Perhaps Khaled should stick to making hits.

Elon Musk’s Beloved Dogecoin Stops Short Of The Moon

Elon Musk profile

Tesla CEO and billionaire Elon Musk has always been very active in sharing his views on Twitter and his Crypto views were no exception.

Elon was one of the main reasons why Dogecoin took off in the way it did. His tweets also had a huge effect on already established crypto coins such as Bitcoin.

Turns out that when you have a following of 97 million people you can drive attention to anything fairly easily.

Elon Dogecoin Chart

On the other hand, what was not so easy was keeping Dogecoin’s price steady – the self-identified meme coin sure did have a harsh punch line.

Floyd Mayweather Takes A Beating From EthereumMax

Floyd Mayweather profile

During his fight with YouTuber Logan Paul, the undefeated 50-0 boxer advertised EthereumMax on his boxer trunks.

In a later interview, Floyd Mayweather said he made $30 million for the patches on his trunks. However, he did not disclose how much of that was EthereumMax.

Floyd EthereumMax Chart

After the fight in June, the coin’s value skyrocketed, but that did not last long as it shot back down in July – it might be time to change the boxer’s record to 50-1.

Mark Cuban’s TITANic Crypto Flop

Mark Cuban profile

The billionaire entrepreneur, television personality and owner of the Dallas Mavericks was one of many endorsing cryptocurrencies, specifically Titan coin.

Mark Cuban used his blog to explain his position and promote Titan to his followers.

Mark Tital Coin Chart

Looking at Titan’s current performance, Mark, and everyone else who invested in the coin, have seen better days – to use a quote from Mark Cuban on Shark Tank: “We’re Out”.

Lana Rhodes Project Tanks Due To…Mean Comments?

Lana Rhodes profile

The former adult actress and current content creator launched her own NFT project titled ‘Crypto Sis’ in which she promised to work and make this a lucrative investment to all those who invest and back the project.

Lana CryptoSis Chart

After the initial mint, $1.5 million got withdrawn from the project and Lana stopped working on the project because, to quote representatives from the Crypto Sis Discord, “she was very shocked/upset by the amount of negative & rude comments she was seeing in the chat”.

Jake Paul promoted a not so sacred NFT

jake paul profile

The YouTuber and current boxer’s history is full of controversy, ranging from failed businesses to crypto ventures.

He recently promoted the controversial coin Safemoon, as well as a range of NFT projects including Sacred Devils and Stickdix, to his 4 million followers on Twitter.

Jake League of Sacred Devil's NFT Chart

Unfortunately, those who invested in those projects all had a similar ROI and Jake Paul is currentlyfacing a lawsuit for his promotion of SafeMoon alongside a group of other influencers.

What else could we expect from the self-proclaimed “Problem Child”?

David Portnoy Joins In The SafeMoon Hype

David Portnoy profile

David Portnoy is an American internet celebrity and founder of the blog Barstool Sports. He was one of many influencers to promote SafeMoon.

He uploaded a video showcasing his support for SafeMoon in which it is unclear whether he is serious about the project or jokingly riding the wave.

David SafeMoon Chart

This did not stop people from giving in to all the promotions and investing in the coin. However, it is currently headed anywhere but the moon – David might want to find another crypto coin to put on his cap.

Influencers Join Forces To “Save The Kids”

Faze Kay & co. profile

Save the Kids Token, marketed as a charity coin that donates part of the winnings to children charities, was pushed online by massive YouTubers with millions of followers like Ricegum, Faze Kay and Faze Teeqo as well as Instagram Influencers such as Sommer Ray.

Faze Save the Kids Chart

Unfortunately, no investors or children profited from the project as it immediately dropped in price. A classic pump and dump if we’ve ever seen one.

What’s Next For Crypto Influencers?

We can’t really predict what the next big thing to promote will be, but what we can predict is if people do not put in the effort to research where they decide to invest their money, we’ll have to make another updated version of this piece in a few years.

If you are thinking about investing your money into anything, be sure to do thorough research into the markets – don’t just jump on a bandwagon because your favourite celebrities have told you to do so – try and take industry experts’ advice instead.


About The Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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