Rume Ophi, an alternative finance and cryptocurrency expert, has advised Nigerians to be cautious of celebrity endorsements and promises of quick wealth in the crypto space. In a statement to Vanguard, Ophi, also known as the Cryptopreacher, highlighted the dangers, especially after the recent collapse of $Jota Coin.
He explained, “The value of $Jota Coin plummeted shortly after launch, with evidence showing liquidity was withdrawn within 30 minutes.” Ophi urged the public to learn from past incidents, cautioning against tokens that might be scams.
He also drew attention to similar issues in the U.S., where celebrities like the Kardashians faced heavy fines for promoting cryptocurrencies without full disclosure. He warned Nigerian celebrities to be careful with their endorsements in this risky market.
