Renowned football icon Ronaldinho Gaúcho, affectionately known as Ronaldinho, has recently teased a return to the cryptocurrency scene, but his controversial history in the industry has left many skeptical.
In a recent social media post on June 23, Ronaldinho expressed his belief that it was time for cryptocurrency to become more mainstream, calling on his followers to join him in this venture. However, his announcement was met with swift backlash from crypto enthusiasts, particularly from on-chain investigator ZachXBT.
ZachXBT raised doubts about Ronaldinho’s motives, insinuating that his post may be a sign of financial distress. He reminded the public of the football legend’s past involvement in questionable crypto projects, accusing him of taking part in various pump-and-dump schemes.
Accompanying ZachXBT’s post was a screenshot of several crypto projects that Ronaldinho had previously endorsed, such as World Cup Inu (WCI), Atari Chain, Lord Society NFT, and the popular meme coin Baby Doge.
Ronaldinho’s earlier foray into the crypto market was marred by controversy, most notably the “18kRonaldinho” scandal, which was linked to a $61 million pyramid scheme. The scheme falsely promised a 2% daily return on crypto investments, leveraging Ronaldinho’s name and image to gain credibility. During a Brazilian congressional hearing, Ronaldinho vehemently denied any association with the company, asserting that his identity had been used without consent.
Celebrities have been increasingly drawn to the world of cryptocurrency. In April 2021, renowned rapper Eminem made headlines with the launch of a series of non-fungible tokens (NFTs) on Nifty Gateway. Eminem also collaborated with Snoop Dogg on an NFT-themed music video for their song “From the D to the LBC.”
Several other celebrities have also ventured into the crypto space. UFC star Conor McGregor partnered with Tiger.Trade, a cryptocurrency trading platform. Tennis ace Maria Sharapova, as well as personalities like Gal Gadot, Bruce Willis, and Justin Bieber, have all shown interest in cryptocurrency.
Most recently, the crypto community saw a surge in meme coins endorsed by celebrities, only to witness a sharp drop in value, resulting in losses for investors. Media personality Caitlyn Jenner and Nigerian musician David “Davido” Adeleke were among the celebrities affected by this trend.