Footballing legend Ronaldinho is facing heat for his latest social media move. Popular on-chain analyst ZachXBT slammed the Brazilian star for advocating crypto to his massive following. But what exactly did Ronaldinho say, and why is it causing such a stir?
Here’s the red card offense.
Ronaldinho Gaúcho, the 44-year-old Brazilian former football star with over 21 million followers on X platform, sparked controversy on Sunday with a post urging cryptocurrencies to become mainstream.
In a sharp response, ZachXBT pointed out Ronaldinho’s involvement in several cryptocurrency projects that allegedly ended in pump-and-dump schemes.
ZachXBT also accused Ronaldinho of using the crypto market to alleviate financial troubles, referencing past challenges such as tax debts.
Ronaldinho has ventured into various meme coins including Baby DogeCoin (BABYDOGE), Kishu Inu, Atari chain, and World Cup Inu ($WCI). He has also aligned with web3-focused initiatives, recently becoming an ambassador for Lingo protocol, a GameFi platform on Solana and Base networks.
Additionally, Ronaldinho is an ambassador for Betify, an online crypto casino platform, which also involves Floyd Mayweather.
The involvement of celebrities like Ronaldinho in the crypto market highlights regulatory gaps globally, potentially allowing public figures to exploit their influence for personal gain, urging caution among investors.
Read Also: Crypto Market Correction: Altcoins Poised for a Major Comeback With 100% Rally
Let the buyer beware! Remember, even legendary footballers may not be the best financial advisors.
The cryptocurrency market recorded more than $669 million in net liquidations on Wednesday, July 23,…
In a recent interview, Sal Gilbertie, CEO of Teucrium Trading, opened up about his firm’s…
Jim Cramer revealed he intends to “own” Bitcoin and Ethereum to protect his children’s financial…
The US Securities and Exchange Commission (SEC) recently made headlines by granting approval for Bitwise’s…
Square has launched Square Handy, a compact and durable mobile POS terminal designed for Japan’s…
New U.S. stablecoin legislation is driving a significant increase in stablecoin issuance from banks, asset…
