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All Those Celebrities Pushing Crypto Are Not So Vocal Now

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In the latest commercial from the virtual currency exchange Crypto.com, titled “Bravery Is a Process,” the star basketball player Joel Embiid walks through Philadelphia while Bill Self, his former college coach, lends the narration.“Even when our path didn’t make sense to everyone else, we kept going,” Mr. Self says in the ad, which made its debut on May 6. “We keep going, until our path is the one they wish they’d taken.”What the ad doesn’t say: The crypto market is in the middle of a meltdown. Buyers beware.Enthusiasm for crypto from Hollywood celebrities and top athletes reached a fever pitch over the past year. On social media, during interviews and even in music videos, they portrayed virtual currency as a world with its own hip culture and philosophy — one that was more inclusive than traditional finance and that involved the chance to make loads of money.The Super Bowl was nicknamed the “Cryp …

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