Celebrities Erase Their Crypto Ties As Crypto Mania Turns Into Crisis
— Market, Matt damon, Corva said many newcomers buy digital assets, Tokens, Professor, Senior analyst, Tea set, Massive onslaught, Famous people may, Hype around — 1 min read
Celebrity endorsements have a long history, but some famous people may be regretting their decisions to push crypto companies. A Harvard Business School study found that celebrity endorsement increases a company’s sales an average of 4% relative to its competition. Experts say celebrity endorsements are especially tempting for all these companies because cryptocurrency is something a lot of people don't understand. Expert: Celebrities often have a vested interest in products but are rarely prepared to take ownership in how they promote the products. Experts: Most celebrities aren’t encouraging people to do homework on the nature of these assets and then buy a small amount of coins or tokens, and don't warn buyers about the downside or the many risks involved in owning these assets. Most consumers are better equipped to weather a storm--such as a downturn-- Source