Cryptocurrencies
Do Celebrities Have a Responsibility to Fans When Backing an NFT?
Pop Icons like Justin Bieber and Madonna have bought and promoted NFTs. They’re not obliged to disclose the financial terms of their endorsements.
Madonna
Photographer: Jamie McCarthy/Getty ImagesThis article is for subscribers only.
Did you know that both Madonna and Justin Bieber own expensive digital images of apes? It’s true: Bored Apes and other nonfungible tokens are a must-have celebrity accessory these days. But should you put your trust in movie stars, pop singers and athletes when it comes to crypto? What are some of the legal questions at play with these celebrity endorsements? Bloomberg reporter Misy Egkolfopoulou stops in for a look at what's behind the buzz with celebrities’ interest in crypto investments.