Cryptocurrency Seeks Spotlight With Spike Lee’s Help

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Some celebrity endorsements of cryptocurrencies are in trouble. In 2017, the Securities and Exchange Commission warned that some famous people were exaggerating what are known as virtual currency sales. initial coin offers without revealing that they were paid to promote them. The Commission has since fixed fees against boxer Floyd Mayweather Jr., music producer DJ Khaled and actor Steven Seagal.

social media phenomena and esports stars also linked shady cryptocurrency schemeswas accused of pumping coins just before their value collapsed.

Coin Cloud’s chief marketing officer, Amondo Redmond, said he hopes Mr. Lee’s reputation helps elevate the industry by offering something “more than great creative, but at the forefront of digital currency becoming mainstream”.

“It’s more than just adding a famous face,” he said.

Mr. Lee, who won an Oscar in the best adapted screenplay category with “BlacKkKlansman” in 2019, has worked on commercials for Capital One, Uber and most famously Nike. He directed and acted in commercials in the 1980s and 1990s. Jordanian Airlines, playing his cinematic alter ego Mars Blackmon opposite Michael Jordan.

“It was lightning in a bottle,” said Mr. Lee from a flight to the Cannes Film Festival, where he was the first Black person to lead the festival jury.

He declined to say how much he was paid for the Coin Cloud advertisement, but “if anyone knows my work over the past four decades, you know how I see the world and when they approach me. fits the line.”

As the coronavirus pandemic continues to highlight financial disadvantages Mr. Lee hopes to promote cryptocurrency for people of color as neutral in terms of race, gender, age and other identifying characteristics.

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