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00:00Tell us about the trends here. It doesn't necessarily seem to have worked. Yes. To have the celebrities on board. Yeah it definitely hasn't for a lot of people. So I started this story. I was pitching random celebrities that I saw and then eventually my editors threw me a bone and they're like hey look into this. And when I did it's it's kind of telling. A lot of celebrities have gotten in on the space. And then after that her husbands my peace kind of looked at how if you had invested when they touted the cryptocurrency the NFTE what happened to your value. And for all the cases in the article they went down. So it's been pretty bad for them. We discovered a hilarious tweet to the contrary from the star of Shaanxi and the legend of the Ten Golden Rings Sima Lu who said who tweeted When my career ends two months from now I just hope that people say Oh yeah I remember seeing you. I like that guy. He never tried to sell me. And. By the way he is a hilarious Twitter follow for anyone who's looking for new entertainment. But like are we going to start to see a trend towards the opposite. You know celebrities not wanting to touch these new industries. I don't think so. I think that what Cristiano Ronaldo just got in with finance and it these companies are trying to bring about mass adoption of crypto currencies. And a really good way to do that is to have celebrities that people know and trust to talk to fans and people that they know about it. And then if there's money there the subsidies will go there. And then I think the biggest takeaway here is that you just just do your own research. Don't just trust a pretty face. Because they told you that this might be a good investment or to look into it. So are you. Are you thinking we're going to continue to see this. Celebrities putting their name face likeness star power behind some of these projects. So like Matt Damon for example has kind of stayed away. You face a pretty big hit in the public from this but other people definitely haven't like I said or and all those in the space. He's a soccer star for Manchester United. Like one of the most popular people on Instagram in the world. So I don't see this going away anytime soon as long as there's money in crypto. There will be people who want to advertise for it.

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The Disastrous Record of Celebrity Crypto Endorsements

Bloomberg's Immanual John Milton joins Emily Chang to discuss the wave of celebrities that touted the life-changing power of crypto investing just as the speculative mania was approaching its peak. (Source: Bloomberg)

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