📣 Breaking News! Celebrities like Caitlyn Jenner and Jason Derulo might be in hot water for promoting memecoins on Solana. Lawyers warn that these stars could be breaking securities laws, and the SEC is likely to take notice. "Nothing gets the SEC to act faster than shilling a memecoin," says David Chung, Creo Legal founding director.

These celebs have launched crypto tokens using their likeness since late May, and if the SEC classifies these tokens as securities, the issuers would need to be registered with the SEC. If not, hefty penalties and fines could be on the horizon.

Remember, folks, not all that glitters in the crypto world is gold. Sometimes, it's just a celebrity-endorsed memecoin that could land you in a legal soup. So, stay informed and invest wisely! 💰🚀