In recent years, Cryptocurrency has gained significant traction. Celebrities have started endorsing and advertising for crypto companies. Matt Damon and Lebron James have done commercials for, Tom Brady and Steph Curry have done commercials for FTX. purchased the naming rights to the Staples Center in Los Angeles for 20 years.

Crypto is a revolutionary new form of currency that has only been around since 2009. Despite being relatively new, crypto has already made a big impact on the world of finance and looks set to continue doing so in the years to come.

Even though Cryptocurrency is a fairly new concept that has seen a lot of growth in popularity over the last few years. So much so, that even celebrities have decided to endorse it. However, during the past few months there has been a significant drop in value for many cryptocurrencies, and as a result, some companies have had to lay off employees.

Once the layoffs came in all the celebrity commercials and endorsements dried up. Celebrities suddenly stop showing support.

Gone are the days when celebrities and sports figures would take the time to learn about a brand before endorsing it. Nowadays, it seems that many of them will endorse products and services without doing any research on the company first. This can often lead to problems later on down the line.

Even the most well-meaning companies can also fall into the trap of lack of due diligence when it comes to sponsoring certain popular figures. They refuse to check their past and even what they are currently doing before signing into an agreement with them. Just like celebrities’ primary focus seems to be financial, companies’ focus seems to be the reach that these individuals have.

One of the potential dangers of failing to do your due diligence is the likelihood of making mistakes that could lead to a crisis for your business or personal brand.