What do Addison Rae, Snoop Dog and Elon Musk have in common? They all invest in crypto.
The US Securities and Exchange Commission has warned against the danger of investing in a cryptocurrency because a celebrity says to.
“Celebrities, like anyone else, can be lured into participating in a risky investment,” said the SEC.
“It’s never a good idea to invest in something just because someone famous says it’s a good investment.”
The City Watchdog also has warned that many of the cryptocurrency trading schemes promoted by celebrities turn out to be scams.
Because celebrities make money through attention, they generally are free to make more risky investments than your average Joe.
The larger their following, the more the celebrity is able to artificially pump a particular coin or crypto on their platform.
Elon Musk, Snoop Dog and Addison Rae
We’ve already seen how celebrities can leverage their influence to affect crypto markets. It seems as though all Elon Musk needs to do is send out a Tweet, and the whole market goes to chaos.
Earlier this year, Dogecoin soared by $10 billion after Musk tweeted the memecoin looked “promising”.
Converselly, the coin plummeted after Musk called himself ‘The Dogefather’ during his SNL cameo.
But Elon Musk isn’t the only celebrity dipping his toes into crypto investments. Tik Tok star Addison Rae’s family recently got involved in crypto through their investment in Gryphon Digital Mining.
“Sustainability is so important to me and my family,” the actress said in a statement. “We are excited to be part of Gryphon, a company that uses 100 percent renewable energy to drive innovation in blockchain technology.”
Fellow TikTok star Johnson has more than 10 million followers on the platform and sees the move as intuitive. “Crypto is shaping the future of currency, and as a young entrepreneur, I want to make sure I am a part of that shift with the best in the business,” the influencer, 22, said.
Want to hear more about Crypto? Hear the latest from our resident experts on Ticker Crypto
Why is the world’s largest crypto exchange battling U.S. regulators?
U.S. regulators have filed charges against Binance, the world’s largest crypt exchange
Is the idea of a financial world that operates outside of the global banking system and eludes the reach of regulations a possibility or a pipe dream?
The Securities and Exchange Commission has filed 13 charges against the Bianace, world’s largest crypt exchange and its billionaire founder, Changpeng Zhao.
The SEC alleges that the crypto exchange worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.
In addition, the SEC is also alleging that Binance and Zhao used market-making companies—that they controlled—to inflate trading prices and profit from of their customers.
Zhao has publicly dismissed the allegations.
Stefan Rust, the former CEO of Bitcoin.com joins us to discuss. #crypto #cryptocurrency #StefanRust #veronicadudo #Binance #ChangpengZhao
Is the metaverse the future of social network?
U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto
Who will win the global metaverse race?
China is looking to invest in the metaverse market as numerous cities rollout policy proposals.
Technology continues to change our lives forever.
As new advancements are released to the public—safety continues to be a major concern.
People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.
While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.
Analysts say it’s the next evolution in social connection and the successor to the mobile internet.
According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.
China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.
This comes after tense year of regulatory scrutiny on the countries tech sector.
The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.
The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.
So, is the metaverse taking the world by storm?
Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech
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