Celebrity Memecoin Scams: The New Crypto Trend?
Mar 26, 2025
Hey, it's Akash!
Hope you had a great week.
This week, we're diving into:
Celebrity memecoin scams (yes, Kanye's involved 🤦♂️)
SoftBank's massive $40B bet on OpenAI
Alo Yoga's metaverse comeback
And much more...
Must-Read Web3 & AI This Week
How Web3 is Unlocking Billions in New Revenue for Clubs & Brands [videox]. Link
Web3 Gaming, AI & The Rise of Telegram [Podcast]. Link
The State of AI in 2025 [Report]. Link
Another current state of AI. Chamath Palihapitiya. Link
The Irony of DeepSeek vs OpenAI. Jason Calacanis. Link
DeepSeek is Paving the Way for Web3 AI. Paul Veradittakit. Link
DeepSeek and the New AI Energy Paradigm. Maja. Link
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Celebrity Memecoin Scams: The New Crypto Trend?
Kanye West just said "no thanks" to $2 million to promote a memecoin on Solana.
The shady plan?
Fake a hack, pump the coin, deny involvement, and cash out.
This isn't just a one-off.
It's becoming a pattern.
From Caitlyn Jenner to Doja Cat and even Dean Norris (Hank from Breaking Bad!), celebrities are suddenly getting "hacked" and pushing memecoins.
Smells fishy, right?
Hackers want ransom, not to run pump-and-dump schemes.
SEC Commissioner Hester Peirce gets it: "If people want to buy a token or product that lacks a clear long-term value proposition, they should feel free to—but should not be surprised if someday the price drops."
The bottom line:
Memecoins are still the Wild West.
But don't dismiss them.
They're becoming tools for businesses, creators, and investors to raise money, boost engagement, and go viral.
Alo Yoga Returns to the Metaverse
Alo Yoga is leveling up its Roblox presence with an updated Alo Sanctuary experience, thanks to a partnership with Sawhorse.
What's new?
Wellness adventures, challenges, and rewards.
Exclusive virtual gear unlocked by scanning NFC stickers at Alo's physical stores (150 locations!).
New paid items like virtual duffle bags and running shoes.
Why this matters:
Alo Yoga gets it. They're meeting Gen Z where they are – in the metaverse.
They're doubling down on digital wellness, gamified engagement, and the future of retail experiences.
SoftBank Goes All-In on OpenAI: $40 Billion Deal
SoftBank is reportedly finalizing a MASSIVE $40 BILLION investment in OpenAI, valuing the AI giant at a staggering $260 billion before the money. This would make SoftBank OpenAI's biggest backer, surpassing even Microsoft.
Deal highlights:
$40B investment over 12-24 months.
$15B for "Stargate," an AI venture with OpenAI & Oracle.
$3B per year for SoftBank to use OpenAI tech.
Joint venture "SB OpenAI Japan" to bring AI to Japanese businesses.
OpenAI's valuation jumps from $157B (Oct '24) to $300B after this deal.
Why this matters: OpenAI needs cash – and lots of it – to fuel ChatGPT and compete with rivals like DeepSeek. SoftBank's billions help, but OpenAI will still need to boost revenue through price increases and enterprise adoption.
Quick Hits: Web3 News You Can't Miss
Story Protocol, the IP layer 1, introduced its token IP -3.20%↓ . Link
Tether is expanding USDT adoption in the UAE through real estate. Link
OpenAI launches “Deep Research”, one of its biggest updates yet. Link
Ondo Finance is building L1 for tokenized RWAs. Link
Czech Republic exempts long-term crypto gains from taxes. Link
SEC's Hester Peirce says speculative token investments may crash. Link
Money on the Move in Web3 & AI
Irreducible: ZK startup raised $24M co-led by Paradigm and Bain Capital Crypto. Link
Elastos: Infrastructure company raised $20M led by Rollman Management. Link
That’s all for now, folks.
Talk soon,
Akash