Football legend Ronaldinho Gaúcho, commonly known as Ronaldinho, has sparked speculation about returning to the crypto industry. Despite his controversial history in the field, Ronaldinho suggested in a June 23 post on X that cryptocurrency should transition into mainstream acceptance, urging his audience to embrace the movement. However, this announcement faced swift criticism from crypto enthusiasts, including on-chain investigator ZachXBT.
The investigator questioned Ronaldinho’s motives, hinting that his recent post could indicate financial difficulties. He explicitly recalled the former football star’s previous engagement in contentious crypto ventures, alleging his involvement in various pump-and-dump schemes.
Accompanying ZachXBT’s statement was a screenshot listing several crypto projects Ronaldinho had previously endorsed, such as World Cup Inu (WCI), Atari Chain, Lord Society NFT, and the popular meme coin Baby Doge.
Ronaldinho’s history in the crypto market was marred by controversy, notably involving the “18kRonaldinho” scandal, which allegedly operated as a $61 million pyramid scheme.
This scheme falsely promised daily returns of 2% on crypto investments, leveraging Ronaldinho’s name and image to enhance credibility. Ronaldinho vehemently denied any association with the company during a Brazilian congressional hearing, stating his likeness had been used without authorization.
Celebrity involvement in crypto is not uncommon. In April 2021, renowned rapper Eminem made headlines by launching 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 entered the crypto space. UFC star Conor McGregor partnered with Tiger.Trade, a crypto trading platform, while tennis icon Maria Sharapova, along with figures like Gal Gadot, Bruce Willis, and Justin Bieber, has shown interest in cryptocurrency.
Recently, the crypto community experienced a surge in meme coins backed by celebrities, many of which quickly lost value, leading to investor losses. Media personality Caitlyn Jenner and Nigerian musician David “Davido” Adeleke were among the celebrities involved in this phenomenon.
