Sure I guess but that's not what the issue here is.

The lawsuits seem to center around the idea that these celebrities are failing to disclose their ownership of these crypto currencies.

In a commercial you are aware the people are giving a paid promotion.

What's happening here seems to be, crypto company gives celebrity some tokens, celebrity (without disclosing their relationship with the company) starts tweeting about how great this random crypto is and how much they have, fans pump the value of the token, celebrity dumps all their coin for massive profits and leaves.

This is highly unethical behavior and definitely fraudulent as well.