Forward the Original Title‘Celebrity Token Launches Losing Their Magic? Ronaldinho’s Crypto Launch Faces Trust Crisis’

Since Trump, celebrity coin issuance seems to have become a new business trend. On March 2, renowned retired football superstar Ronaldinho announced the launch of his personal token $STAR10 on the BSC chain. Despite reaching a market cap high of $32 million amid bearish market conditions, it fell far short of expected buying enthusiasm. Instead, social media exposed numerous conspiracy theories about the token, including allegations about a Shenzhen-based token launch team, unlocked liquidity pools, retained minting privileges, and insider trading scandals. Even Binance founder CZ, who shared the launch information, faced backlash from users. Is this celebrity token trend really just a one-sided path to wealth?

Football Genius Turned Into a Crypto Tool? Professional Team’s Suspicious Operations

Ronaldinho, once hailed as Brazil’s most talented football star and affectionately known as “Little Ro” by fans, was beloved throughout his career and dubbed the “Football Elf.” However, like many talented athletes from humble beginnings, early fame led to a lack of discipline. His lifestyle of excess ultimately ruined his career, leading to bankruptcy and forcing him to capitalize on his fame for income.

After trying various ways to make money through appearances, the crypto industry’s quick profit potential seemed to become his preferred option.

On February 22nd, Ronaldinho tweeted “crypto looks good here,” teasing his token launch plan. However, due to the continued crypto market downturn, the token wasn’t officially launched until ten days later.

During these ten days, the crypto market experienced a significant decline. The previously hot Solana chain showed signs of weakness, while the BSC chain, with CZ’s frequent interactions, attempted to become the new hub for MEME tokens. Ronaldinho’s final choice suggests a team well-versed in crypto market dynamics was advising him.

On February 28th, Twitter user @R10coin_ revealed that a Shenzhen-based token launch team was behind Ronaldinho’s token. The whistleblower, claiming to represent another professional token issuance company, said they had initially agreed to a $6 million collaboration with Ronaldinho for the token launch. They only exposed this information after another Shenzhen team allegedly hijacked the deal with a $10 million offer, sharing emails and Ronaldinho’s signed documents. The community generally viewed this as a case of fraudsters exposing each other, though such insider manipulation seems to have become commonplace, similar to the recent token launch drama involving President Milei. As of March 4th, the whistleblower’s Twitter account has been suspended.

Since the user didn’t provide more substantial insider information, the team behind Ronaldinho’s token launch remains unknown. According to PANews investigation, the $STAR10 token’s official website domain is hosted by GoDaddy, with two IP addresses that trace back to Amazon Web Services. These IPs have resolved over 80,000 domains, making it impossible to prove single-entity control.

Interestingly, among the domains resolved by this IP was the official website of another well-known MEME token, PNUT, which was listed on Binance last year. However, based on current evidence, there’s no direct proof that the conspiracy groups mentioned on social media are behind $STAR10’s token issuance.

Hidden Contract Issues: Backdoor Privileges Spark Trust Crisis

During the token issuance process, people sensed a lack of sincerity in $STAR10’s launch. According to GoPlus Security monitoring, the $STAR10 token contract owner retained the right to burn tokens, and the liquidity pool was only locked for one month.

This backdoor-style operation led many users to believe the project team was preparing for a rug pull, triggering widespread criticism on social media. Binance founder CZ, unaware of this vulnerability, initially retweeted Ronaldinho’s token launch announcement, stating it wasn’t an endorsement but merely appreciation for choosing BNB Chain. However, he subsequently faced backlash from users.

Perhaps due to community pressure, Ronaldinho’s team later announced on Twitter that they had renounced minting privileges and extended the lock-up period by 255 years to 2281.

However, this attempt to rectify the situation failed to gain much community approval. As of March 4th, the token had approximately 9,500 on-chain holders, far fewer than TRUMP’s 640,000 and even less than LIBRA’s 27,000 addresses.

282x Profits from Front-Running: Another Case of Insider Trading (Front-running)?

Front-running has been a common issue in celebrity token launches, and $STAR10’s launch showed similar signs. According to Onchain Lens reports, an insider purchased 20 million $STAR10 tokens for 49 BNB (worth $29,000) before the public launch. As of March 4th, this address has sold tokens worth $350,000 and still holds tokens valued at over $2.6 million.

PANews calculations show the user’s average cost was about $0.0014, reaching a 282x gain at the peak, with maximum holdings worth $8.26 million - nearly a quarter of the circulating market cap. More suspiciously, while Ronaldinho’s Twitter announcement came at 22:17 UTC on March 2nd, this address made its purchase at 22:17:08 - even before the announcement. How did this trader risk $29,000 without confirming the token’s source? PANews investigation revealed the initial funds came from a Binance hot wallet.

Overall, Ronaldinho’s token launch appears to be another failed case. Similarly, NBA legend Scottie Pippen’s token $BALL, launched last August, has a mere $4.5 million market cap, about 1,400 holders, and just 5 transactions worth $2,300 in 24-hour trading volume - a complete disaster.

Recent controversial tokens like LIBRA and MELANIA were also exposed as schemes by suspicious groups. People seem to have grown weary of these predatory tactics and are no longer buying in blindly. As of March 4th, $STAR10’s market cap has fallen to $11.5 million, down 66% from its peak.

From an investment perspective, celebrity tokens have been nearly universal failures. For celebrities trying to cash in quickly through crypto launches, this exploitative model appears to be reaching its end.

Disclaimer：

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