SEC: Don’t trust celebrities who offer “investment opportunities”. – Our thoughts on 2017 are still the same.
The United States Securities and Exchange Commission reissued its warning in the 2017 bull. “It seems that there are still some fundamental flaws from four years ago.” said.
SEC: Don’t trust celebrities who offer “investment opportunities”.
The US Securities and Exchange Commission Investor Education and Advocacy Office, which addresses training and information issues related to investment in the US, reminded a warning from 2017 on its Twitter account @ SEC_Investor_Ed.
“It’s never a good idea to invest in this thing because a celebrity said something is a good investment.”
This warning is to prevent US citizens from receiving investment advice from celebrities who support assets and products.
It was first published on November 1, 2017. The authors admitted that various “investment” options have unfortunately become commonplace for some dishonest internet celebrities that can lead to bankruptcy:
Celebrities from movie stars to professional athletes can recommend a wide variety of products and services – sometimes even including investment opportunities – on television, radio, and social media. (…) Making an investment decision is never a good idea, as a celebrity says a product or service is a good investment.
The authors also stressed that celebrities can be persuaded to endorse fraud schemes. Also, malicious people can use the image of a public person without their consent.
Our thoughts on 2017 have not changed
During the 2017 ICO enthusiasm, many celebrities were involved in promoting investment scams, as was previously involved with U.Today. Namely, famous boxer Floyd Mayweather and music producer DJ Khaled were punished for approving the Stox ICO scam.
During the ongoing rally, crypto novices still follow the investment advice of “influencers”. So, TikTok bloggers triggered a DOGE pump in August 2020.
In addition, Tesla’s Techno King, Musk’s tweets, many people bought Bitcoin (BTC) and Dogecoin (DOGE).