Football icon Ronaldinho is stepping back into the crypto world, but not everyone’s cheering. His past ventures have raised eyebrows, and now, on-chain investigator ZachXBT is questioning his motives. Is this a genuine attempt to push crypto mainstream, or is something else at play?
Ronaldinho’s Crypto Comeback: A Second Chance or a Red Flag?
On June 23, Ronaldinho tweeted his return to crypto, urging his followers to join him as the asset class goes “mainstream.”
But the announcement was met with skepticism, especially from those familiar with his previous crypto involvements.
ZachXBT’s Scrutiny: A History of Crypto Projects
ZachXBT didn’t hold back, suggesting Ronaldinho’s return might be financially motivated. He implied that Ronaldinho might be in need of funds again, referencing his past crypto projects.
ZachXBT’s tweet included a list of crypto projects Ronaldinho has been involved with:
- Baby Doge: A meme coin.
- Atari Chain: A blockchain project by the gaming company Atari.
- Lord Society NFT: A Non-Fungible Token project.
- World Cup Inu (WCI): Another meme coin capitalizing on the World Cup hype.
The “18kRonaldinho” Controversy: A $61 Million Allegation
One of the most significant controversies surrounding Ronaldinho’s crypto involvement is the “18kRonaldinho” project. This project was accused of being a $61 million pyramid scheme, promising unrealistic returns of 2% per day for investments of at least $30 in digital currencies.
Ronaldinho served as an ambassador for the company, which initially focused on watches and jewelry. However, during a Brazilian congressional hearing, he denied any formal association, claiming his image was used without his consent.
Past Crypto Ventures: NFTs and Tokens
Besides “18kRonaldinho,” the football star has been involved in other crypto ventures:
- New World Inc. (February 2022): Partnered with Graph Blockchain’s subsidiary to promote NFT experiences.
- P00LS (Later in 2022): Collaborated with the decentralized exchange to launch his own token, RON.
Celebrity Crypto Endorsements: A Risky Business?
Ronaldinho isn’t the only celebrity to venture into the crypto space. However, these endorsements often come with risks. Many celebrity-backed meme coins have seen their value plummet, leading to significant losses for investors.
Other celebrities who have faced backlash for their involvement in crypto include:
- Caitlyn Jenner
- Andrew Tate
- Davido
Some have even faced accusations of insider trading, like Andrew Tate and Iggy Azalea, according to blockchain analytics firm Bubblemaps.
Conclusion: Proceed with Caution
Ronaldinho’s return to crypto raises questions given his history. While he may genuinely want to help crypto go mainstream, investors should approach with caution. The crypto market is volatile, and celebrity endorsements don’t guarantee success. Always do your own research before investing.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
