Jason Derulo's Meme Coin Crashes: Sahil Arora Blamed for Promotion Backfire

Pop star Jason Derulo is under scrutiny after endorsing a meme coin, which swiftly devalued, reigniting concerns about celebrity involvement in high-risk financial endorsements. This debacle not only results in financial losses but also jeopardizes the reputations of celebrities and erodes confidence in the cryptocurrency market.



On June 23, Derulo unveiled his meme coin, JASON, to his 3.5 million followers on X. However, the coin's value plummeted over 72% within minutes, causing widespread discontent among investors and fans.



In the aftermath, Derulo pointed fingers at Sahil Arora, an Indian national notorious for past cryptocurrency controversies, accusing him of deceit. Derulo pledged to resolve the situation, tweeting:



“Damn Sahil got me! That’s ok, that’s motivation to take this all the way! I just bought $20,000 worth. I


First found on: cryptonews today