Football legend Ronaldinho Gaúcho, mostly known as just Ronaldinho, has recently hinted at re-entering the crypto scene, but his controversial past in the industry has cast a long shadow of doubt.

In an X post on June 23, Ronaldinho said it was time for cryptocurrency to “go mainstream,” asking his audience to join him. However, this announcement was quickly met with criticism from crypto enthusiasts, including on-chain investigator ZachXBT. 

The sleuth questioned Ronaldinho’s intentions, suggesting his recent post might be a sign of financial troubles. He pointedly reminded the public of the former football star’s past involvement in controversial crypto projects, accusing him of participating in multiple pump-and-dump schemes.

A screenshot accompanying ZachXBT’s post featured multiple crypto projects the football legend had promoted in the past, including World Cup Inu (WCI), Atari Chain, Lord Society NFT and well-known meme coin Baby Doge.

Ronaldinho’s previous venture into the crypto market was fraught with controversy, notably highlighted by the “18kRonaldinho” scandal, which allegedly involved a $61 million pyramid scheme. 

This scheme falsely advertised daily returns of 2% on crypto investments, using Ronaldinho’s name and image to bolster credibility. At a Brazilian congressional hearing, Ronaldinho vehemently denied any association with the company, asserting that his likeness had been used without authorization. 

Celebrities in crypto

Ronaldinho is not alone in his celebrity status intertwined with the crypto world. In April 2021, renowned rap artist Eminem made headlines with the launch of a series of non-fungible tokens (NFTs) on Nifty Gateway. Eminem also collaborated with Snoop Dogg on an NFT-themed music video for their song “From the D to the LBC.”

Other celebrities have similarly made notable entries into the crypto scene. UFC star Conor McGregor teamed up with Tiger.Trade, a crypto trading platform. Tennis star Maria Sharapova, alongside personalities like Gal Gadot, Bruce Willis, and Justin Bieber, has also shown interest in cryptocurrency.

Most recently, the crypto community witnessed a wave of celebrity-backed meme coins, which quickly dumped, triggering investor losses. Media personality Caitlyn Jenner and Nigerian musician David “Davido” Adeleke were some of the celebrities caught up in the saga.