By Anna Peel, ValueWalk
With the enormous growth of crypto popularity recently, more people are using the currency, as well as celebrities now endorsing cryptocurrencies. But which celebrities have been accused of touting cryptocurrency or pushing investments?
Forex Recommend took a look into celebrities that have endorsed or promoted cryptocurrencies as well as scams where celebrities have been impersonated.
Kim Kardashian, Floyd Mayweather, and Paul Pierce
Most recently, a class-action lawsuit was filed in January in California against Kim Kardashian, Floyd Mayweather, and Paul Pierce for promoting a new cryptocurrency called EthereumMax. The lawsuit claims the trio acted as celebrity endorsers for the currency as part of a larger scheme to defraud investors while profiting for themselves. The lawsuit has been filed on behalf of an investor but EthereumMax has denied the allegations.
DJ Khaled And Floyd Mayweather
January’s lawsuit is not the first time that Floyd Mayweather has faced financial controversy – the boxer – and music producer DJ Khaled were fined in 2018 for unlawfully touting cryptocurrencies. The pair paid a combined $767,500 in fines and penalties for promoting an ICO from the cryptocurrency company Centra Tech to their Twitter and Instagram followers.
Twitter Hacks
In 2020, several high-profile celebrities were hacked in order to promote a Bitcoin scam. Those impacted included Kanye West, Barack Obama, Elon Musk and Jeff Bezos. The…
