Hollywood Celebrities Invest $87 Million in Cryptocurrency Firm MoonPay

Prominent Hollywood celebrities like Ashton Kutcher, Paris Hilton, and Justin Bieber have reportedly invested nearly $87 million in crypto-payments enterprise, MoonPay.

According to Bloomberg News, MoonPay, which received 16% of its latest round of funding from celebrities, revealed in a press release statement on Wednesday that over 60 actors, musicians and other famous figures have shelled out about $87 million collectively in investments. Previously, Tiger Global Management and Coatue Management had headed the company’s Series A funding round which amassed $555 million, placing the crypto-payments firm at $3.4 billion in valuation.

Bloomberg News reported that Ashton Kutcher, Justin Bieber, Diplo, Paris Hilton, Gwyneth Paltrow, Mindy Kaling, Drake, Bruce Willis, Steve Aoki, Matthew McConaughey, and Post Malone are some of the prominent figures who have invested in the company.

CEO Ivan Soto-Wright said in an interview, “MoonPay sees an entire different format for the entertainment industry.” He added, “My thought was: Let’s build a diversified portfolio of incredible people that represent different industries and let’s talk about the use cases for their intellectual property.”