Crypto-Influencer Liability

The growth of celebrities endorsing cryptocurrencies over the past few years has resulted in many lawsuits and regulatory actions against them. This Article examines some of these recent actions using Google Trends as well as insights from scholarly marketing literature. We suggest that while celebrities can have an influence on the public in terms of searches and interest in cryptocurrencies, such influence is more nuanced. The impact of celebrity endorsements depends on how the public perceives the celebrity both in terms of their fame and their expertise.

As such, any legal or regulatory actions will have to account for these nuances when seeking legal redress against celebrities whose endorsements may have been placed on products that ultimately failed or caused losses for those who invested in them.