Key Takeaways:
- Tristan Thompson, a former NBA player, is transitioning into a career in crypto investing and consulting
- Thompson is not the only celebrity to enter the crypto space, with others like Iggy Azalea, Lamar Odom, and Mike Tyson also involved
- The crypto industry has seen a resurgence in popularity, with celebrities like Donald Trump and his family launching their own tokens
- The industry is still plagued by concerns over insider trading, pump-and-dump schemes, and regulatory crackdowns
- Celebrities are opting for meme coin launches, which offer lower-budget and higher-risk opportunities for monetizing their audiences
Introduction to Tristan Thompson’s Career Shift
Tristan Thompson, a 6ft 9in center, is nearing the end of his basketball career. His appearances on the court have decreased significantly, with only 40 games played during the 2024-2025 season. However, he is pivoting into a new career as a crypto investor, consultant, and brand ambassador. Thompson has rebranded himself and is now the host of his own podcast, Courtside Crypto. He has made appearances with other crypto celebrities, including a visit to the Nasdaq in September to celebrate the IPO of a Bitcoin mining operation. Thompson has also developed a crypto startup, slated to launch in 2026.
The Resurgence of Crypto in Washington and Hollywood
In 2025, crypto is back in style in Washington and among a growing set in Hollywood. Donald Trump has reversed Joe Biden’s legal offensive against crypto, debuting his own token, $Trump, before his inauguration. This move has rolled back government actions against the industry, which heavily supported him during his bid for the presidency. Celebrities have also returned to promoting cryptocurrency projects or launching tokens of their own. Thompson is not the only pro sports figure diving into crypto, with others like Lamar Odom and Mike Tyson also involved. Outside of sports, Thompson stands alongside figures like Iggy Azalea, who has launched her own crypto token, $MOTHER.
The Rise of Meme Coins
Meme coins, a subset of cryptocurrencies that are billed as purely speculative and not enforced as securities, have become a popular choice for celebrities. Iggy Azalea was named the creative director of Thrust, a new platform allowing celebrities to issue their own branded meme coins. The platform claims to mitigate the potential for token collapses and pump-and-dump schemes by limiting how token issuers can sell their own shares. However, the industry may not have entirely reformed, with Azalea’s $MOTHER meme coin facing allegations of insider trading almost as soon as it launched.
The Impact of Celebrity Endorsements
Celebrities in the crypto realm can reach hundreds of millions of followers cheaply via social media, and they can easily establish a narrative since most fiduciary advisors steer clear of the sector. Directing follower attention can be incredibly lucrative, since crypto investments are largely a "coordination game" driven by demand, rather than underlying fundamentals. The Kardashian case, in which Kim Kardashian settled with the SEC for $1.26m over charges in connection with illegally promoting a crypto security, "tamped down on all celebrity involvement" in crypto, according to Dr. William Mullins, a professor of finance at UC San Diego.
The Trump Factor
Donald Trump’s enthusiasm for the crypto industry has been a significant factor in its resurgence. His launch of the $Trump token demonstrated the lucrative potential of meme coins, although it may have come at the expense of other celebrities’ crypto ambitions. The $Trump token "sucked up so much liquidity" that it caused other meme coins’ prices to fall, which may have dissuaded other celebrities from launching their own tokens. Trump’s administration has also rolled back regulatory actions against the crypto industry, which has been seen as a positive development for the sector.
The Future of Crypto and Celebrity Involvement
The crypto industry is expected to continue to evolve, with more buttoned-up ventures and prediction markets potentially launching ad campaigns with well-regarded brand ambassadors. Celebrities may also tie up with prediction markets like Polymarket or Kalshi, especially sports stars, whose followers may use gambling platforms like DraftKings. Thompson’s upcoming venture, Basketball.fun, is a crypto-inflected hybrid of DraftKings and Polymarket that is slated to launch early next year. The platform will use a fantasy league-type user experience as its foundation, minting a meme coin assigned to every player in the NBA, and allowing users on the platform to determine the value of the player by trading those currencies.
Thompson’s Views on Crypto and Trump
Thompson believes that many figures in the crypto industry have been unfairly punished in the past and welcomes Trump’s enthusiasm for the industry. He also expressed support for Trump’s presidency, citing his affinity for the Trump administration’s slate of tariffs as one path towards empowerment. Thompson pointed to the economies of Israel, Russia, and Dubai as ones where "they [successfully] keep money circulating within the country" to generate wealth. He also believes that Trump is trying to bring back the concept of "making America great again" by circulating money internally, similar to how it was when the early settlers came to America.
Conclusion
The crypto industry is still plagued by concerns over insider trading, pump-and-dump schemes, and regulatory crackdowns. However, with the resurgence of crypto in Washington and Hollywood, and the involvement of celebrities like Tristan Thompson and Iggy Azalea, the industry is expected to continue to evolve. The rise of meme coins and the impact of celebrity endorsements will likely play a significant role in shaping the future of the crypto industry. As Thompson’s upcoming venture, Basketball.fun, is set to launch, it will be interesting to see how the platform performs and how it will contribute to the growth of the crypto industry.