Back in October, before "meme stocks" had become "a thing" and a share of GME could be purchased for less than $15, we noted that former porn star Lana Rhoades had apparently stumbled on to a new, potentially more lucrative, line of work: pitching 'trading seminars' and other products (up to and including s***coins).
Since then, Rhoades has really made a go of it, pitching coins like "cumrocket" and "titcoin". Over the weekend, however, she apparently touched a nerve by posing with a copy of Benjamin Graham's seminal finance book "the Intelligent Investor" in a pitch for "pawgcoin", yet another shitcoin focused on the adult entertainment industry. Those who have read the Intelligent Investor may remember that Graham sees himself as a promoter of prudent investing advice, and a critic of "risky" speculation.
We imagine there aren't too many credible analysts out there who would describe "pawgcoin" as a sensible long-term investment.
According to its website, pawgcoin is intended to be used as a currency for "creators" of "tasteful noodz" (imagine if OnlyFans had its own in-house currency).
But regardless of your views on pawgcoin, Rhoades' innocuous post (which was clearly marked as #sponcon) elicited a stream of mock indignation on Twitter, and even a wry comment from the WSJ's Jason Zweig, writer of "the Intelligent Investor").
Porn stars paid to pump meme coins whilst posing with “The Intelligent Investor”...— Mateus 🥳🕺Funky Finance (@FinanceFunky) June 6, 2021
Please, someone make it stop 😫 pic.twitter.com/Cc59huOR51
I think her thigh tattoo says “...safety of principal and an adequate return” https://t.co/cFFShFltPA— Jason Zweig (@jasonzweigwsj) June 7, 2021
For those who aren't familiar with the term, a "PAWG" is a "Phat Ass White Girl", according to Urban Dictionary.
And according to twitter, Rhoades isn't the only celebrity who has signed on to promote "Pawgcoin". Rapper Tyga, best known for being Kylie Jenner's ex, is also promoting the cryptocurrency.
Rhoades alone has more than 15M followers on Instagram.