--- title: "Crypto-Shilling Celebs Suddenly Very Quiet Now That It’s Crashing" description: "Busted Remember all those celebrities who did crypto ads? They’re still rich, but they’ve been awfully quiet since the industry they shilled has tanked in value. As The New York Times notes, not a single one of the celebrities who did cryptocurrency ads earlier this year has said anything since its cumulative valuation went straight to […]" date: "2022-05-18" modified: "2022-05-18" authors: - name: "Noor Al-Sibai" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/nooralsibai" url: "https://futurism.com/the-byte/crypto-shilling-celebs-silent" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "crypto" - "larry david" - "matt damon" - "the digest" --- # Crypto-Shilling Celebs Suddenly Very Quiet Now That It’s Crashing ![Remember all those celebrities who did crypto ads? They're still rich, but they've been awfully quiet since the industry they shilled has tanked in value. ]() *\Image: Getty Images/Futurism\* ## Busted Remember all those celebrities who took money from crypto companies to do ads encouraging low-information dupes into investing? They're still rich, but they've been awfully quiet since the industry they shilled has [tanked in value](). As [*The New York Times* notes](), not a single one of the celebrities who did cryptocurrency ads earlier this year has said anything since its cumulative valuation went straight to hell — except for Larry David, who made a telling admission through a representative. When the *NYT* asked David's representation for comment, the director of an FTX ad featuring the "Curb Your Enthusiasm" star admitted that the actor doesn't own crypto and doesn't know how it works. “Unfortunately I don’t think we’d have anything to add," Schaffer told the times, "as we have no idea how cryptocurrency works (even after having it explained to us repeatedly), don’t own it, and don’t follow its market. We just set out to make a funny commercial!" ## Fortune Favors the Knaves Besides David, there's been nary a peep from his fellow crypto-shilling celebs that the *NYT* reached out to, from Matt Damon — who [starred in a widely-panned ad]() under Crypto.com's milquetoast slogan, "Fortune Favors the Brave" — and LeBron James to Reese Witherspoon and Gwyneth Paltrow, along with countless others. As noted by the University of Chicago's Giovanni Compiani — whose marketing research focuses on the way younger and lower-income crypto investors tend to be overly optimistic about what they're buying into — these celebs' boosterism and subsequent silence is particularly insidious because of their wealth. "This is real money that people are investing," Compiani told the *Times*. "Those who promote it should be more upfront about the potential downsides." Amen to that. **READ MORE:** [All Those Celebrities Pushing Crypto Are Not So Vocal Now]() \[*The New York Times*\] **More on crypto idiocy:** *[Dogecoin Creators Says That 70 Percent of Crypto Investors Are Complete Morons]()* ## Author At Futurism, I've often been drawn to unpacking the narratives that underlie technological, scientific and medical progress, with a special interest in areas of conflict and ambiguity that end up setting agendas and steering the fates of both elites and the hoi polloi. I'm a committed generalist, but I often find myself returning to work involving NASA and the private space sector, the effects of AI on media and society, and the mechanics of the pharmaceutical industry, with a specific focus on the spread of GLP-1 drugs like Ozempic and Wegovy. Prior to Futurism, I worked for publications ranging from Media Matters and Truthdig to Raw Story and Bustle. I'm also the author of "Myspace Scene Queens," a 2024 title in Instar Books' acclaimed "Remember the Internet" series. My work at Futurism has been cited by outlets including the New Yorker, Slate, Nieman Lab, the Verge, the MIT Technology Review, the Sunday Times, and the Daily Beast. I grew up in North Carolina, attended the University of North Carolina at Asheville, and now live in Brooklyn, New York. In my free time, I'm an avid reader and music fan; you can probably find me at a local poetry reading, concert, underground rave, or DJ set. I'm the proud parent of an ineffable orange cat named Mee-Mow. ### Author social links [Bluesky]()