Paris Hilton: the New Crypto Queen?

Promoting an ICO with a celebrity endorser is becoming more and more popular. Celebrities like rapper, the Game, and boxer, Floyd “Money” Mayweather have already announced their support of cryptocurrency and promoted certain ICO’s. Paris Hilton has joined suit, announcing on September 3rd on her Twitter account that she will be participating in the LydianCoin ICO.

Who is Behind LydianCoin?

LydianCoin is being developed by Silicon Valley CEO, Gurbaksh Chahal. Chahal is currently the CEO of Gravity4, a Silicon Valley-based advertising firm. Many are viewing this venture by Chahal as a a last ditch effort to raise money before facing jail time, stemming from a previous domestic violence conviction.

According to the Daily Beast, in 2013, Chahal was filmed assaulting his girlfriend 117 times and trying to smother him. The video was thrown out in court and he eventually pleaded down his 47 felony charges to two misdemeanor charges. Chahal was sentenced to pay a $500 fine and put on probation. Chahal violated that probation when another girlfriend called police to report domestic violence. Chahal was sentenced to one year in prison, however, he is avoiding serving time as his case is out on appeal.

Business Insider reports that Chahal is hoping to raise $100 million through the ICO by selling 20 million coins at $5 a piece. LydianCoin is hoping to provide a platform that combines blockchain with very targeted artificial intelligence backed digital marketing and advertising services.

Chahal is utilizing his power and influence to market the ICO. In addition to utilizing his friendship with Paris Hilton, Chahal has published a YouTube video promoting the coin with photos of him and President Obama and Oprah Winfrey among others.

Hilton is continuing to show her support at the initial Tweet, with another Tweet about her excitement for LydianCoin’s NYC event, as well as, several re-tweets about the coin.