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Anyone who watched this year’s Super Bowl is well aware of the crypto craze that swept much of the world in recent months. Celebrities who saw this 21st-century gold rush were quick to jump on board, offering their famous faces as endorsements for all forms of Web3 products, including Bitcoin and personalized NFTs. Perhaps most famously, Matt Damon’s “Fortune Favors the Brave” ad for Crytpo.com has been viewed by countless millions around the world.
But as most major cryptocurrencies have faced significant price crashes and crypto-related businesses are laying off employees by the thousands, those same celebrities are now facing scrutiny for enticing unsophisticated investors to dump cash into highly volatile markets.
