The crypto industry has taken the world by storm. In just over a decade, the crypto market has become one of the top three most popular investing markets, next only to the stock market and the foreign exchange market. In the past couple of years, terms like cryptocurrency, crypto trading, and altcoin have entered common usage, and Bitcoin, Ethereum, and Tether have become household names.
Studies have shown that close to 50% of the United States population have shown interest in cryptocurrency. Not to mention, a large chunk of millennial millionaires keeps at least a quarter of their wealth as crypto stock. So, why has the crypto market become so incredibly popular in the past ten years?
Some believe that it is because the market is new and exciting for many. Others link the rise of cryptocurrency to people’s declining faith in more mainstream investment options. There is also no denying that crypto casinos have had a major influence. For those who don’t know, crypto casinos are gambling websites that let you play all your favorite games, all the while using Bitcoin to gamble.
Finally, celebrity endorsements have certainly had a major impact on the crypto industry. So, in this article, we would like to go over some major celebrities who’ve promoted cryptocurrency, and talk about how their endorsements turned out.
What you'll learn 👉
Lindsay Lohan Advocates for NFTs
Actress, singer, and influencer Lindsay Lohan is best known for her television and movie roles. However, among the crypto community she is well-regarded as a proponent in favor of cryptocurrency and non-fungible tokens.
For those who don’t know, NFTs are a digital identifier that work to denote ownership and authenticity. NFTs exist on blockchains, and share a lot in common with cryptocurrency. They usually serve to show proof-of-stake in digital works of art.
Throughout the years, Lohan has been a big advocate for cryptocurrency and non-fungible tokens, even referring to the latter as “Hollywood’s future.” In 2021, she dropped her single “Lullaby” as an NFT, to relatively big success.
But it doesn’t end there. That same year, the actress and singer minted a “fursona” of herself, which she sold as part of her digital art NFT collection. The image depicts Lohan as a wolf-person, and it was hugely successful, quickly becoming a meme.
While Lindsay has been a long-time proponent of cryptocurrency and NFTs, she has recently become embroiled in a crypto-related scandal. Which brings us to our next celebrity.
Jake Paul charged by SEC
YouTuber, social media influencer, and martial artist/boxer Jake Paul has recently become embroiled in a crypto controversy. According to the US Securities and Exchange Commission (US SEC), Jake Paul, Lindsay Lohan, and six other celebrities used their platforms to promote cryptocurrency without disclosing that they were paid to do so.
Apparently, Jake Paul promoted TRX and BTT on his social media platforms. However, not once did he mention that he was compensated for his trouble. Jake and his brother Logan have had a long and storied history with cryptocurrency, and sadly, crypto-related scandals. So, this is not a first for the young boxer.
According to various sources, Jake Paul paid to settle out of court, without ever admitting guilt. The other celebrities embroiled in this scandal include the following:
- DeAndre Cortez Way, better known by his rap moniker, Soulja Boy
- Austin Mahone
- Michele Mason, better known by her porno moniker, Kendra Lust
- Miles Parks McCollum, better known by his rap moniker, Lil Yachty
- Shaffer Smith, better known by his stage name, Ne-Yo
- Aliaune Thiam
50 Cent – Overnight Millionaire
The rap community was among the first to truly embrace the crypto craze. From Snoop Dogg to Nas to Kanye West, many world class rappers have shown their support and endorsement of cryptocurrency. Among them, a notable name is 50 Cent, who in 2014 decided to accept Bitcoin payment for his album, Animal Ambition.
After the album’s release and initial excitement, 50 Cent (real name Curtis James Jackson) promptly forgot about the Bitcoin he had received. Until a few years later, when someone brought up the crypto’s surge in value. Curtis Jackson then discovered that the Bitcoin he had accumulated from album sales had grown to be worth over ten million dollars. Certainly, he must have been quite pleased with himself.
Jamie Foxx Thinks Bitcoin is “Badass”
Actor and musician Jamie Foxx is perhaps best known for his roles in Djano Unchained, Spider-Man: No Way Home, and for his role on Kanye West’s hit single Gold Digger. However, he is also quite popular among crypto fans, as he is one of the biggest names in Hollywood to endorse and promote cryptocurrency.
Foxx has a long history of promoting cryptocurrency on his Twitter. Even before cryptocurrency went mainstream, the actor promoted cryptos like Ethereum. During interviews, he has also been an outspoken advocate for cryptocurrency. During one interview he referred to Bitcoin as “badass,” and claimed that the crypto market in general is a game changer.
Recently, the actor experienced some health issues, for which he had to be hospitalized. Though many were worried, Jamie Foxx has been released from the hospital and is now going through physical rehabilitation. He recently released a statement saying he feels blessed and that he is hoping for the best.
Ashton Kutcher Pushed for Ethereum
Perhaps best-known as Kelso in That 70s Show, Ashton Kutcher is actually quite a successful investor and businessman outside of his acting career. He was among the first to invest in AirBnB and Uber, both of which have now become big-name businesses in their own right. So, as someone with a knack for investing, it isn’t surprising that Kutcher has also endorsed cryptocurrencies and has invested in them himself.
In fact, in 2014, a whole year before the crypto’s release, Ashton Kutcher was tweeting and talking about Ethereum. Upon release, Vitalik Buterin’s creation quickly became the second most popular cryptocurrency on the market, next to Bitcoin.
And speaking of Bitcoin, Kutcher is also a prominent investor in that too. He regularly updates his fans about all of the latest news regarding the world’s most famous cryptocurrency. So, if you are curious where to look for crypto news, look no further than Ashton Kutcher’s Twitter profile.
