- Lindsay Lohan and Soulja Boy have allegedly received payment from the same DeFi crypto project I return for covertly promoting it
- Lohan and Soulja Boy have apparently received payments funded by Firdaos, a Dubai-based DeFi platform
- Any sponsorship has not been revealed, in contravention of SEC rules
Celebrities endorsing cryptocurrencies is nothing new. 2017 and 2018 saw a rash of ICOs wheeling out well known faces (including some faces that hadn’t been on screen for some years) in their attempts to sell their dodgy coin. It seems that another such ‘golden’ period could be among us, with a link emerging between Soulja Boy’s recent publicly stated desire to get into cryptocurrencies and Lindsay Lohan’s tweeting about Bitcoin, which was followed by another promoting an NFT. It seems that the pair were hired by a Dubai-based DeFi platform to covertly promote their platform and token, seemingly following in the same illegal footsteps as ICOs.
Lohan Bitcoin Tweet Crashes Market
The community was instantly suspicious of her motives in doing so, given that she had never shown any interest in the past regarding cryptocurrencies. It all became clearer six hours later however when she posted another tweet, which again referenced Bitcoin, and asked her followers to follow her “vision of empowerment” by buying an NFT of herself from Rarible. This, of course, has nothing to do within Bitcoin, and it was clear the whole thing as just a marketing ploy.
— Lindsay Lohan (@lindsaylohan) February 10, 2021
Firdaos Behind the Tweets
A link was soon spotted by Twitter user @dogetoshi, who looked into Miss Lohan’s Ethereum wallet and found she had been sent around $10,000 in ETH, WETH and RARI tokens (the token for the Rarible platform). He linked the ‘donations’ received by Lohan to Firdaos, a Dubai-founded DeFi platform, and then remembered that their native FDO token was among the tokens Soulja Boy said he bought after seeking solicitations from the cryptocurrency community:
They got to Soulja Boy firsthttps://t.co/HvwOh0Wjir
— Steven (@Dogetoshi) February 10, 2021
It seems therefore that Firdaos is of the mind that hiring washed up musicians and actors to promote your token without revealing that they are doing so is a perfectly legal way to operate. Except that, as many ICOs from the last bull market are finding out, it isn’t.