GRIFTADJACENTCRYPTO

BitClout / DeSo

Tokenized 15,000 celebrities without their consent. Spent proceeds on a Beverly Hills mansion.

$257M

Capital Raised

5+ YRS

Lifespan

15,000+ public figures tokenized without consent

Body Count

AUTOPSY REPORT

Scraped 15,000 Twitter profiles and created tradeable crypto tokens pegged to celebrities — all without asking anyone. Elon Musk, Katy Perry, and thousands of others suddenly had 'creator coins' being traded by strangers, while founder Nader Al-Naji allegedly spent $7M of investor funds on a Beverly Hills mansion and 'extravagant cash gifts' . The SEC charged Al-Naji with fraud over the $257M raise. He'd previously shut down a $133M stablecoin project called Basis. Rebranded to 'DeSo' when BitClout got too toxic. SEC dropped the case in March 2026. a16z and Sequoia backed both projects. Nobody learned anything.

DAMAGE: 15,000+ public figures tokenized without consent

TIMELINE

2018-12Al-Naji's previous project Basis shuts down, returns $133M

2021-03BitClout launches, scrapes 15,000 Twitter profiles

2021-09Rebrands to DeSo, announces $200M in backing from a16z and others

2024-07SEC charges Al-Naji with fraud over $257M raise

2026-03SEC drops case with prejudice, no penalties

SOURCES

→ TechCrunch: SEC Charges BitClout Founder With Fraud → Fortune: How 'Diamondhands' Conned Silicon Valley's Most Famous Firm — Twice → CryptoPotato: BitClout Sells Celebrity NFTs Without Consent

← Kiko Ozy Media →

Satirical project. Not affiliated with Y Combinator. All information from public records.