ZachXBT Criticizes Ronaldinhos Bid to Manipulate Crypto Market

Renowned on-chain analyst ZachXBT has criticized the legendary football icon Ronaldinho Gaúcho for his efforts to sway his followers towards embracing the crypto market.

In a post on X platform, the 44-year-old Brazilian former professional footballer, with over 21 million followers, expressed his support for mainstream adoption of crypto. “Time for crypto to go mainstream, who’s with me?” Ronaldinho posted.

ZachXBT responded to Ronaldinho’s crypto advocacy by highlighting the footballer’s involvement in various crypto projects over the years, many of which ended up being pump-and-dump schemes. The on-chain analyst questioned Ronaldinho’s financial decisions, especially his attempt to use the crypto market to alleviate his past financial troubles.

Notably, Ronaldinho has been associated with meme coins like Baby Doge Coin (BABYDOGE), Kishu Inu, Atari chain, and World Cup Inu ($WCI), among others.

Currently, Ronaldinho is collaborating with web3-focused projects to promote their products. For instance, he has recently become an ambassador for Lingo protocol, a GameFi platform operating on Solana and Base networks.

Moreover, Ronaldinho is also an ambassador for Betify, an online crypto casino platform that includes Floyd Mayweather in its operations.

Given the varying regulations in the cryptocurrency market globally, celebrities like Ronaldinho may exploit loopholes. Therefore, it is essential for crypto investors to conduct thorough due diligence on web3 projects before engaging with complex smart contracts.