Some prominent cryptocurrency recommendations have gotten into trouble. In 2017, the Securities and Exchange Commission warned that some famous people were hyping virtual currency sales known as Initial Coin Offerings without revealing that they had been paid for them. The commission has now settled the charges against boxer Floyd Mayweather Jr., record producer DJ Khaled and actor Steven Seagal.
Social media influencers and esports stars have also been linked to seedy cryptocurrency systems accused of pumping coins up just before their value plummeted.
Coin Cloud’s chief marketing officer Amondo Redmond said he hoped Mr. Lee’s stature would help improve the industry by delivering something “more than just cool creatives, but this is really on the front line, when the digital currency becomes mainstream ”.
“It’s more than just adding a celebrity face,” he said.
Mr. Lee, who won an Oscar for Best Adapted Screenplay in 2019 for BlacKkKlansman, has worked on ads for Capital One, Uber, and most importantly, Nike. He directed and starred in commercials for Air Jordans in the 1980s and 1990s and played his cinematic alter ego Mars Blackmon opposite Michael Jordan.
“That was a bolt of lightning in a bottle,” said Lee of a flight to the Cannes Film Festival, where he was the first black man to lead the festival jury.
He declined to say how much he paid for the Coin Cloud commercial, but noted that “if anyone has known my work for the past four decades, you know how I see the world and when it came up to me.” “. , it fits in the row. “
As the coronavirus pandemic continues to show financial disadvantages for people of color, Mr. Lee hopes to promote the cryptocurrency as being neutral towards race, gender, age and other identifiers.