Hyperliquid News Today: Celebs Trade Octagon Hype for Crypto Crashes as Markets Cool

Conor McGregor's recent foray into the crypto space has sparked a public feud with former UFC rival Khabib Nurmagomedov, only to be met with a sharp rebuke from onchain sleuth ZachXBT. The Irish fighter accused Nurmagomedov of exploiting cultural symbols and his late father's legacy to sell NFTs on Telegram, calling the project a "scam" in a now-deleted X post. However, the critique backfired when ZachXBT highlighted McGregor's own failed memecoin, REAL, launched in April 2025. The token, marketed as a celebrity-driven project, raised just 39% of its target and was refunded to participants after failing to gain traction amid a broader crypto downturn.

McGregor's REAL token employed a sealed-bid auction to deter price manipulation but struggled to attract buyers. The project offered staking rewards and Irish cultural references, yet it collapsed under market conditions that had turned sharply against memecoins since late 2024. High-profile failures, including projects endorsed by U.S. President Donald Trump and Argentina's Javier Milei, have eroded investor confidence, with memecoin market caps hitting record lows in 2025. ZachXBT's response mirrored McGregor's accusations, questioning whether the UFC star "used his reputation, as well as Irish culture" to scam his fans by deleting promotional content post-sale.

The exchange underscores a growing skepticism toward celebrity-backed crypto ventures. Nurmagomedov defended his NFTs as "cultural gifts," dismissing McGregor's claims as a post-fight rivalry extension according to reports. Yet the broader pattern remains: celebrity endorsements increasingly serve as both catalysts and liabilities in the volatile crypto market. For instance, Coffeezilla, a crypto scam investigator, previously linked Nurmagomedov to NFT-related controversies, while Trump and Milei's memecoin projects collapsed shortly after launch according to analysis.

The REAL token's failure reflects systemic risks in celebrity-driven crypto projects. Despite leveraging McGregor's global fanbase and cultural themes, the token succumbed to market forces and investor wariness. Analysts note that celebrity projects often lack the technical depth or long-term utility to sustain value, relying instead on hype cycles that fizzle once initial interest wanes. This dynamic has left many investors holding depreciated assets, particularly in platforms like Pump.fun, where quick deployments and minimal barriers to entry have become synonymous with rug pulls.

The broader memecoin market remains in a bearish phase, with total market caps shrinking to $39.4 billion in 2025-a far cry from the parabolic growth seen in 2024. Regulatory scrutiny and high-profile frauds have further dampened sentiment, pushing investors toward more institutional-grade assets. However, the persistence of celebrity-driven projects highlights the enduring allure of crypto as a branding tool, even as its financial risks become more apparent.

For now, the McGregor-Nurmagomedov clash serves as a cautionary tale for celebrity entrepreneurs in crypto. As ZachXBT's intervention demonstrates, the onchain community is increasingly vigilant against perceived exploitation, demanding transparency and accountability. Whether McGregor's REAL token will resurface or fade into the annals of crypto's memecoin graveyard remains to be seen-but the fight for legitimacy in the space has only just begun.