Jason Derulo Blames Sahil Arora After Meme Coin Promotion Backfires

1. WHO was/is affected? Investors and fans of Jason Derulo who purchased the JASON meme coin based on his promotion, as well as investors in other celebrity-associated meme coins launched by Sahil Arora, including those supposedly connected to Rich the Kid, Kylie Jenner, Iggy Azalea, and potentially Tyga and Ronaldinho. 2. WHAT happened? Jason Derulo promoted a meme coin called JASON to his 3.5 million followers, after which the coin lost 72% of its value within minutes. Following backlash, Derulo blamed Sahil Arora for misleading him and promised to rectify the situation by purchasing $20,000 worth of tokens. 3. HOW it happened, and how can viewers prevent themselves from getting scammed? Arora has established a pattern of acting as a middleman for celebrities unfamiliar with cryptocurrency, launching tokens that rapidly lose value after initial promotion. To avoid such scams, viewers should: never invest based solely on celebrity endorsements; research token fundamentals and team backgrounds; verify if the celebrity truly understands what they're promoting; and be wary of newly launched tokens with no clear utility or roadmap. 4. WHY this happened? This occurred due to the combination of celebrity influence, lack of crypto knowledge among celebrities and their followers, and the exploitation of this gap by experienced manipulators like Arora. The promise of quick profits attracts investors, while the technical complexity of crypto allows bad actors to obscure their intentions. 5. WHERE are people affected? The impact is global, affecting followers of these celebrities worldwide who have access to cryptocurrency exchanges and trading platforms. Social media platforms like X (formerly Twitter) serve as the primary battleground where these promotions spread rapidly to millions of potential investors. 6. Crypto markets remain largely unregulated compared to traditional financial systems, creating an environment where such schemes can flourish. The pseudonymous nature of transactions makes it difficult to recover funds or hold perpetrators accountable.