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Westbrook said that celebrities should be cautious of the influence they have when promoting cryptocurrencies, and should understand the blockchains (distributed ledger technologies) that underpin them.

"I personally think that anything that puts cryptocurrencies in front of the eyes of everyday people is a great thing for the markets overall. On the other hand, I believe it's important that celebrities know the importance of their endorsements and understand the underlying principles of blockchain technology," he said.

"The last thing we need is a household name promoting what turns out to be a scam ICO."

@peakdemand

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