Circle Welcomes DJ Khaled to USDC Amid Crypto Backlash
Circle, the company behind the USDC stablecoin, sparked controversy on X with a post featuring rapper DJ Khaled. The account shared a photo of Khaled wearing a Chelsea FC jersey with 'USDC by Circle' across the chest, captioned 'Another one,' a nod to his famous catchphrase. Circle CEO Jeremy Allaire later welcomed Khaled to 'team USDC,' but the post did not mention any sponsorship or partnership.
The crypto community quickly reacted, criticizing the move due to Khaled's past involvement in the Centra Tech scandal. In 2017, Khaled promoted the Centra ICO without disclosing that he was paid $50,000 for the endorsement. He later settled with the SEC, paying over $150,000 in fines. Critics questioned why Circle would associate with someone who had been penalized for undisclosed crypto promotions.
However, the post appears to be unrelated to a direct sponsorship. Circle is Chelsea FC's front-of-shirt partner, while Khaled is involved through a separate deal with the club's Roc Nation partnership announced in May. Despite this clarification, Crypto Twitter remained skeptical, with users sarcastically suggesting Circle should sponsor other celebrities with similar histories, like Kim Kardashian.
The backlash highlights the lingering scrutiny over celebrity endorsements in the crypto space, especially given Khaled's past actions. While the post may have been a lighthearted nod, the crypto community's reaction underscores the importance of transparency and the long memory of the internet.