Information from Arkham Intelligence indicated that the top five celebrities, boasting substantial followings on Elon Musk’s X platform, predominantly maintained investments in Ether (ETH) or non-fungible tokens (NFTs).
Former U.S. President and Republican figure Donald Trump possessed the most substantial net worth in digital assets, totaling $7 million. Trump’s primary holding was approximately $5.1 million derived from the TRUMP NFT collection, yet opportunities for further digital asset affiliations remained plausible.
Recently, Trump suggested that his campaign might consider accepting cryptocurrency donations as the United States gears up for elections later this November. He has also been in discussions with prominent figures in the industry regarding policy issues.
Justin Bieber, the pop sensation, held the second position with $451,000 in blockchain assets, the majority of which, $433,000, resided in ETH. However, Bieber’s most recent activity dates back two years ago and was associated with Yuga Labs’ Otherside project on the NFT marketplace OpenSea.
Neymar, the soccer icon, along with comedians Jimmy Fallon and Kevin Hart, secured the third, fourth, and fifth positions. As per Arkham’s data, their crypto net worths stood at $56,000, $113,000, and $40,000, respectively.
Amidst the NFT frenzy, celebrities like Bieber and Fallon garnered attention for acquiring high-value collectibles such as the Bored Ape Yacht Club, spending millions in ETH. This trend also boosted platforms like MoonPay, providing a concierge-like service to notable figures keen on exploring the speculative digital collectibles market.
Fast forward three years, the NFT markets have shifted to the sidelines within the industry, with over 95% of these collections now holding little to no value. Regulatory bodies such as the SEC have taken action against well-known creators in this space.
Ventures such as Dapper Labs and Ashton Kutcher’s Stoner Cats have faced lawsuits accusing them of selling unregistered securities to susceptible investors.
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