Personality Cult: Why “Celebrity” Cryptocurrencies Are Doomed to Fail
When a famous artist, athlete, or politician launches their own token, it almost always comes with massive hype. Prices skyrocket, market caps reach billions of dollars, and thousands of investors rush in hoping for quick profits. However, history shows that such projects collapse just as quickly, leaving retail investors with heavy losses. The reason lies not only in hype and greed but also in the lack of real value behind most “celebrity coins.”
Kanye West’s YZY: Music, Hype, and Collapse
On August 21, Kanye West launched the YZY token on the Solana network. The project was marketed ambitiously: it promised an entire ecosystem, including a meme coin for payments, merchandise, and access to exclusive content. At launch, its market cap jumped to nearly $3 billion, but it soon lost about 65% of its value, dropping to ~$1.1 billion. The main reason was insider control of large token volumes and subsequent mass sell-offs.
This case clearly demonstrated how hype without long-term value is destined to fail. Despite Kanye’s brand power, the project failed to retain investor interest.
EMAX by Kim Kardashian: Instagram Hype and SEC Fines
EthereumMax (EMAX), an ERC-20 token, gained popularity after Kim Kardashian promoted it in an Instagram post. Later, it turned out to be undisclosed paid promotion, which led to the SEC fining her $1.26 million. The token price collapsed by over 99%, and its market cap essentially vanished. This case revealed how easily influencers can lure investors into projects with little to no real value.
TRUMP: Political Pump, Market Dump
The TRUMP token launched on Solana peaked at $73.43 with a market cap of around $14.5 billion. Soon after, the price crashed to $8–9, marking a 90% drop. Later it was revealed that a significant portion of tokens was controlled by entities linked to Donald Trump, including CIC Digital. These insiders made hundreds of millions, while retail investors were left with steep losses.
BEAST: MrBeast’s Name, but No Involvement
The BEAST token launched on Binance Smart Chain (BSC) was marketed as a charitable project tied to YouTuber MrBeast. However, he publicly denied any involvement. As expected, the token spiked briefly and then nearly collapsed to zero. Blockchain data showed that most of the supply ended up in just a few anonymous wallets.
WATER: Messi and Ronaldinho Can’t Beat the Market
Football legends Lionel Messi and Ronaldinho supported the WATER token on BSC, positioning it as a social impact project. The price surged by 194–350% in its early days but soon fell below launch value. Even such global stars couldn’t prevent investors from taking losses when large holders started selling.
Other Cases: Floyd Mayweather and Jake Paul
Floyd Mayweather promoted multiple ICOs, including Centra Tech, whose founders were later sentenced for fraud. Despite fines and sanctions, Mayweather continued lending his image to new crypto projects, many of which failed.
YouTuber Jake Paul endorsed tokens like Safemoon and YummyCoin. Blockchain analysis showed that insiders dumped tokens almost immediately after launch, leaving retail investors with losses. Paul was later named in class-action lawsuits tied to misleading promotions.
Common Traits Across All Celebrity Tokens
- Massive marketing campaigns leveraging celebrity names.
- Insider allocations and purchases in the first minutes of launch.
- Token concentration in a few wallets controlled by insiders.
- Market manipulation through pump-and-dump schemes.
- Inevitable collapse leaving retail investors in losses.
Table: The Most Notorious Celebrity Tokens
| Token | Network | Initiator | Peak Market Cap | Current Status | Main Issues |
|---|---|---|---|---|---|
| YZY | Solana | Kanye West | ~$3B | ~$1.1B (–65%) | Insider control, liquidity decline |
| EMAX | Ethereum | Kim Kardashian | Unknown | –99% value | Undisclosed promotion, SEC fine |
| TRUMP | Solana | Donald Trump | ~$14.5B | –90% value | Concentration in affiliated entities |
| BEAST | BSC | MrBeast (unverified) | Unknown | Nearly worthless | No real creator involvement |
| WATER | BSC | Messi & Ronaldinho | +194–350% at launch | Below launch price | Pump and dump, lack of utility |
Conclusion: Trust Matters More Than Hype
The stories of celebrity tokens highlight a recurring pattern: projects built solely on personal brands are fragile. They rely on short-term hype and influencer trust rather than technology or real value. This makes them highly vulnerable to pump-and-dump schemes and eventual collapse.
Unlike these hype-driven tokens, projects built on transparency, utility, and long-term strategy can earn sustainable trust. In crypto, trust is a far more valuable currency than celebrity endorsements or flashy promotions.