Ronaldinho Returns: Is This the Start of Another Celebrity Memecoin Scam?

Ronaldinho's crypto endorsement raises red flags due to his past involvement in dubious projects, cautioning investors to research thoroughly before investing.
Scams, Voice of Crypto 

Key Insights

  • Ronaldinho tweeted about crypto adoption, raising suspicion of a possible memecoin launch.

  • However, Ronaldinho also has a history of promoting and dumping crypto projects.

  • Last year, the football legend was involved in an alleged $61 million crypto scam, further fueling skepticism.

  • Investors are urged to be wary of any crypto project endorsed by Ronaldinho and should always conduct proper research before interacting with any new projects.

The internet never forgets anything—especially when it involves the crypto community and shady crypto ads.

Very recently, Brazilian football legend Ronaldinho took to Twitter to advocate for the mainstream adoption of crypto—advocacy that would have been met with open arms if the footballer hadn't had a few red circles in the history books.

Here’s what Ronaldinho thinks of crypto, as well as how the crypto community has reacted, amid 3 million views and more than 4,000 retweets.

A Stirring Statement

This week, on June 23, Ronaldinho tweeted the following to his 21 million followers: "Time for crypto to go mainstream. Who's with me?"

<div class="paragraphs"><p>Mainstream crypto adoption</p></div>

Mainstream crypto adoption

The speciation around this tweet has pointed so far to a possible token or coin launch, as we have seen with other celebrities like Andrew Tate, Iggy Azalea, and Caitlyn Jenner in the last few months.

However, while the football legend didn't mention any specific token launches, blockchain sleuth Zach XBT replied with sharp criticism, "Is this a translation for you are bankrupt again?" before posting screenshots of all the projects the footballer had "pumped and dumped" over the years.

While Zach XBT's criticism is harsh and possibly "unwarranted," there might be some good reason for it.

Celebrity Endorsements in Crypto

This is not the first time that Ronaldinho has endorsed one crypto or the other.

Amid Iggy Azalea's $MOTHER and its $200 million market cap, Andrew Tate's $DADDY with more than $100 million, and Caitlyn Jenner's $JENNER, the crypto industry has seen more celebrities and politicians jump into the celebrity memecoin space.

The community even had high-profile scams, like 50-Cent's hacked account, which was used to promote a certain $GUNIT coin and raked in millions in less than one hour.

Because of these celebrity pump and dumps, the crypto community has become more cautious of new projects, particularly from celebrities with histories of scams and dumps.

Only last year, in September 2023, Ronaldinho was embroiled in an alleged crypto scam worth $61 million.

This scam was called "18kRonaldinho" and promised investors around 2% daily returns.

 On August 31, he appeared before a parliamentary committee inquiry, where he was questioned about his role in the 18kRonaldinho,” scam.

Ronaldinho claimed that he was also a victim of the alleged scam and that the company behind the scam had never partnered with him.

Instead, they used his name and image without his consent.

Overall, the community notes under the original Ronaldinho tweet advise caution when interacting with any projects endorsed by Ronaldinho, as they are likely to be scams.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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