Celebrity memecoins highlight crypto’s influencer problem

Celebrity memecoins are the latest influencer crypto trend, with the likes of Katlyn Jenner and Iggy Azalea recently launching their own memecoins.

“Retail users intending to speculate on cryptocurrency need to be aware that cryptocurrency is volatile, and memecoins, in particular, are extremely volatile, and most fail; in other words, they trend to zero. The involvement of any celebrity or personality that endorses or speaks of a memecoin does not change this fact,” Frizza added.The celebrity memecoin frenzy started with the American media personality Caitlyn Jenner’s memecoin on May 28.

Arora allegedly played the role of middleman, launching tokens on behalf of celebrities — sometimes without their knowledge — before convincing them to use their social media to promote the tokens by promising riches. Apart from Azalea’s MOTHER, most of the tokens have lost more than 90% of their value since launching.

Entertainment Entertainment Latest News, Entertainment Entertainment Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Colorado corpse flower is a celebrity as crowds line up to get a whiffA rare corpse flower at Colorado State University bloomed Saturday. Stream courtesy CSU.
Source: 9NEWS - 🏆 238. / 63 Read more »

Celebrity Calls Out California Democrat for Blocking Child Marriage BillCalifornia has no minor age requirement for child marriage as long as a parent or guardian and a judge consents.
Source: Newsweek - 🏆 468. / 52 Read more »

‘Hacker’ identified in celebrity memecoin scams, says crypto sleuth RoxoA member of the X crypto community claimed to uncover the identity of the “hacker” of celebrity X accounts, which were not hacks but social engineering.
Source: Cointelegraph - 🏆 562. / 51 Read more »

10 Celebrity Dads Open Up About Their Vasectomy Experiences, Regrets, & MoreRelief, sadness, indecision, and utter joy: these celebrity dads have experienced it all when it comes to contemplating a vasectomy.
Source: SheKnows - 🏆 558. / 51 Read more »

‘Perfect Match’s Dom Gabriel Flirts With His Celebrity CrushNicole Weaver was a writer for Showbiz Cheat Sheet. She&039;s the host of Black Bi Reality podcast and covers Love Is Blind, Big Brother at Collider.
Source: Collider - 🏆 1. / 98 Read more »

Gypsy Rose Blanchard Says She's A Trauma Survivor, Not CelebrityGypsy Rose Blanchard's making it crystal clear: she ain't no celeb -- in fact, she's a trauma survivor, and her story is not for your entertainment.
Source: TMZ - 🏆 379. / 59 Read more »