Kim Kardashian slated in FCA crypto warning
FCA chair Charles Randell has warned investors not to take cryptocurrency advice from Kim Kardashian and other social media influencers paid by unverified crypto companies to push unverified – and often fraudulent – products.
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FCA is rather toothless against this sort of unregulated financial promotion.
I would like to see laws capable of financially penalising those who benefit from this after the investments fail and also ways to prevent UK currency being used to buy these unregulated assets.
It is sad to see we're at a point as a society where we need to have a government agency advise people not to take investment advice from billionaire social media influencers and reality TV stars.
That said, it's a pointless statement, the Venn diagram of people who hear Kim Kardashian's advice and the FCA's advice is two circles separated by a wide chasm.
Well clearly nanny knows best
Blockchain technology is here to stay and Bitcoin is the hardest money the human race has ever created. It is divisible, durable, divisible, portable and scare. It emerged after the 2008 financial debacle as a form of money which was decentralised and not subject to the control of any government or institution. Bitcoin has been here 12 years and has never been hacked despite thousands of attempts. This is due to the ' proof of work ' system it uses.
M2 money expansion has accelerated at an alarming rate ... this includes all the major central banks. This is reflected in massive increases in all asset prices.
Do your own due dililence on this ....
Everybody should own some Bitcoin .... not financial advice !
Of course neither the article you're replying to nor the statements it's reporting on are in any way about Bitcoin, rendering your post rather redundant.
Unregulated speculative cryptocurrencies are inherently problematic without rigorous specification and openness about their backing. eMax (which was the specific cryptocurrency talked about, in case you missed it) isn't even a proof-of-work system. Not that that's an inherent problem, it's just not even in the same category of cryptoassets that you're lauding.
Did Kim realy need the money? It is doubtful that she understood the risks.
But then why does a Dragon need to advertise accouting software.
There are people for whom "enough" is never enough ... and hardly surprisingly they tend to be the uber rich (as they parked any scruples a long time ago).
Did Kim realy need the money? It is doubtful that she understood the risks.
But then why does a Dragon need to advertise accouting software.
He career is literally as an advertiser, it's what she does. Her brand is specifically created to add as much weight as possible to her endorsements.
Did she need the money? No, but her career, her profession, is endorsing things for money. At what point should people retire because they have enough, and why should that only apply to some people?
I'm not in defence of her or her endorsement, I know very little about either Etherium Max or Kim Kardashian, but you are complaining about a wealthy person still doing the job that made them wealthy. You could apply the same argument to every single non-retired multi-millionaire.
What a world we are living in now!
FCA has to warn people not to take such advice from such celebrities.
As Einstein once said
"the difference between genius and stupidity is that there are limits to genius"
I know nothing about this person but is that a waxworks dummy in the photo or a real human?
I know nothing about this person but is that a waxworks dummy in the photo or a real human?
Well if you know nothing about her best play it safe and attack her appearance.
Celebrity , TV Media Star , Social Media Influencer, Cryptocurrency Glamouriser........There's no beginning to some peoples talent.
Now cryptocurrency, according to the publication, is like the Wild West. There are few rules, no regulator yet, but the consequences for investors are tangible - especially for those who invest in fraudulent schemes. And altcoins are not only promoted by bloggers - they were promoted by boxer Floyd Mayweather and Elon Musk.
Millionaire investor and Dallas Mavericks owner Mark Cuban published a post on his blog on June 13, which made sales of two altcoins soar. One of them was Titan, and its price at its peak was $65. Four days later, the price dropped and is now worth less than a cent. In an interview with Bloomberg & tradecrypto.com, Cuban admitted that he himself lost money - he was "too lazy to do the math.