Celebrities who have brazenly shilled their memecoins on X in recent months run a high risk of attracting the attention of the SEC and class-action lawsuits.
Celebrities who have recently created and promoted memecoins on Solana could be breaking securities laws and “will absolutely catch the attention” of the United States securities regulator, according to lawyers.
US-based public figures, including Caitlyn Jenner, Iggy Azalea (real name Amethyst Kelly), Jason Derulo (real name Jason Desrouleaux) and many others, have launched and promoted crypto tokens using their likeness since late May.
“Nothing gets the SEC to act faster than shilling a memecoin,” Creo Legal founding director David Chung told Cointelegraph.
