[2018-12-02] SEC’s Next Move: Social Media Influencers Who Promoted Crypto ICOs

[gentlemand]

https://www.ccn.com/secs-next-move-social-media-influencers-who-promoted-crypto-icos/

https://twitter.com/SEC_Enforcement/status/1068476597945151488

Looks like this is going to go beyond people like Floyd Mayweather and hopefully on to all the little shits on Youtube who milked as many people as possible. John Mcafee is the obvious scalp.

Since there are so bloody many I can't imagine the SEC will have the time to nail everyone. It'll be interesting all the same to see who winds up in the doghouse.

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[BitHodler]

I already noticed how some of these influencer parasites have started to remove content. I like how we're seeing regulators do what people expect them to do. It's pretty late, but better late than never.

Maybe that this will help giving honest projects a fair shot to actually build up something useful, where they now are being ignored because of all the scams promising people the moon.

Only seeing the SEC do this is already a clear signal that promoters of these scams should watch every step very carefully. They were the main reason BitConnect managed to grow out so large and make a lot people lose everything.

[CoinClarity]

I know the SEC has been trying to discourage celebrities from backing ICOs for a bit over a year now:

https://www.sec.gov/news/public-statement/statement-potentially-unlawful-promotion-icos

So they are probably doing this as a warning to future celebrities, but $600k is barely a drop of Mayweather's net worth. The dude is dumb as a box of rocks so he probably didn't know any better, but he's also greedy enough to let any negative thoughts about engaging in this promotion slide off his battered noggin.

In any case, now that YouTubers are considered celebrities I hope you're right about them being pursued as well.

[gentlemand]

In any case, now that YouTubers are considered celebrities I hope you're right about them being pursued as well.

It's the fact that they're going beyond celebrities now that's interesting. Someone like Thingy Hilton is obviously going to get her botty slapped.

When they start nailing creeps broadcasting from basements you know they're not messing around.

It's been nauseating seeing all these assholes taking the piss out of people for years believing they're immune because 'code is law' and it's 'on the internet' so that somehow allows them to operate with impunity. The chickens are coming home to roost with a thud.

[NeuroticFish]

In any case, now that YouTubers are considered celebrities I hope you're right about them being pursued as well.

It's the fact that they're going beyond celebrities now that's interesting. Someone like Thingy Hilton is obviously going to get her botty slapped.

When they start nailing creeps broadcasting from basements you know they're not messing around.

Well, it's about time. Or, no, in fact, they are more than one year late.
I mean, those "celebs" (really?!) should check very well what they promote, whether it's about an ICO, whether it's about an obscure medicine clone like the ones advertised in spam.

If they would have done that earlier, maybe some things wouldn't have developed at this level...
I see it as a good sign. Maybe things will get healthier in the discussions about ICOs in some more months. And with this could come a better perception of the crypto scene.

[buwaytress]

Think anyone promoting crap should get time in prison crappers, so far it's fines they can probably pay off. Not really sure ICOs should be any more of a target than MLMs or other ambassadorial products I see on regular media, they're all basically selling profit and easy money.

What about all those advisors with their names peddled on whitepapers and slapped on to ICO ratings sites? McAfee the obvious scalp as OP points out but am pretty sure we've seen quite prominent devs feature quite prominently on some ICOs. They're arguably more influential than Cryptotubers. Be nice for the likes of Forbes to also get rapped. Featuring Onecoin on their cover for example.