Influencers who promoted FTX are now being sued for allegedly promoting “unregistered securities”
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Influencers who promoted FTX are now being sued for allegedly promoting “unregistered securities”
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nOt FiNaNcIaL aDvIcE
Karma Train pulling into Shyster Station?
I really hate the financial freedom type social accounts. I’ll long-hold and hit “not interested” when it comes up on the tok.
Feels like the influencers deciding not to comment were making the smarter move, vs the guy saying ‘aw shucks, I feel bad for people, and I’d contribute for reparations because I feel bad, but not because I’m responsible’
Fuck finial influencers, they are idiots. But I think legally, they shouldn’t be held accountable. Ftx lied to them and everyone. Ftx wasn’t going to open their books to influencers to promote their products.
Scam companies are going to scam forever. But I think maybe if the government wants to regulate financial advice, maybe influencers need a way to be more clear with who or how they got their information. The influencers AFAIK just pedel the same lies ftx told them and just just got paid to say it.
As for giving the money back, I don’t think they need to, they were paid, they were up front they were paid, and ultimately the company, in the case ftx, should pay the damages. I mean the alternative is have influences of any size get a sponsorship, but then never spend that money just in case the company that paid them turned out to be a scam and they have to give the money back?
Its just another scam like that scottland surname plot of land. Influencers got paid to sell it, but it’s the company that lied to them and everyone.
My Dad said he listened to Matt Damon and lost all his money.
“Well, I feel bad that some people misunderstood my ‘Buy a leopard, which will totally not eat your face’ video as an endorsement of buying a leopard. I do understand that most of the people that bought leopards had their face eaten by them, and while I feel bad, they made the choice to buy the leopard and I can’t be responsible for that. I’ll gladly contribute to a victim’s fund though with a percentage of the earnings from my new venture, Sellyourleopardtocovermedicalbills.com, AFTER all pending lawsuits are settled.”
1 month to 2 months warning is by far not a make up for shilling them prior to that.
You should see the copium the influencers are huffing to avoid blame and their sycophants are so down on their dick that thy might choking soon, it is beautiful to watch.
They won’t and shouldn’t be held financially accountable. Especially if they were just sponsored ads and that was made clear. I can see why some people think it is morally wrong for a financial influencer to accept a sponsorship from a financial institution they haven’t done due diligence on, but it’s kind of an unrealistic expectation.
Reality is everyone and their brother was involved in this thing, and crypto was broadly popular up until recently. Miami branded their stadium with FTX for god’s sake. It’s not like they were promoting some obscure product. This is diffused responsibility in action. It’s hard to point at any one person other than SBF and his team who are responsible, cause everyone else can just point to some other guy who also thought it was legit.
Pains me to say so as a longtime crypto skeptic, who had to push back against a lot of pressure from friends and others who made me feel dumb for missing out. Just kept telling them their crazy yield accounts make no sense. While I and many others were skeptics, plenty of people who ‘should have known better’ weren’t. It is what it is.
All investments come with risk, and I’m sure all of these influencers make that clear throughout their content, as the guy Coffee interviewed alluded to.
The sponsorships in general do bother me though. Half these youtubers that get sponsored by Nord VPN or whoever almost do so with a wink and a nod. They know it’s a waste of money. They know RayCon aren’t great ear buds. I look past it because I get that people need to make a living, but I know there are gullible people who buy that shit. Youtubers are routinely promoting stuff that is more obviously scammy than FTX was IMO.
Bitboy, shilling a scam? No way
Their congregation is composed of stupid people to begin with, you know?…
I clicked out as soon as I saw LegalEagle, which is a shame because I love Coffeezilla.
LegalEagle often spouts bad legal information, despite having a team of lawyers/paralegals that does his writing/research (most people are unaware of this, I wouldn’t be surprised if they wrote his section in this video), and the only videos I’d say this is morally acceptable are the ones where he’s reviewing fictional cases like Ace Attorney or Always Sunny.
The point of his channel is to actually push his overpriced and borderline scammy legal prep services; he doesn’t actually do any legal practice himself anymore.
I put half my money in the blue chips: Transatlantic Zeppelin, Amalgamated Spats, Congreve’s inflammable Powders, U.S. Hay, & Confederated Slave Holdings. And the rest I sunk into that up-and-coming Baltimore Opera Hat Company.
Does anyone else notice the steam from his mug seems fake? Not to mention the extremely slow ceiling fan going slowly in reverse.
Lol I like how Meet Kevin accidentally compared Crypto to gambling. Oops. 🤣
Best thing you can do is stop watching their videos. Clearly they just want to make money with YouTube ads and FTX promos. Please someone explain me what’s the reason why so many people still watch their shitty videos when you can go and watch a Warren Buffett interview and learn from a real billionaire with real knowledge.
It’s almost like regulation of places where people invest their money might not be as heinous as lots of these people thought?
That’s awesome, Fuck those guys.
If you blindly invest money into something because some guy being paid to advertise it, advertised it… that’s on you. Let’s make 2023 the year of taking responsibility for yourself. I feel bad for anyone and everyone who lost money… but trying destroy something else won’t rebuild what you lost.
Sounds like Erika didn’t read the fine print.
Not financial advice, but my buddy let me in on a little known market secret. Come closer, let me explain 💸
So get this, they don’t want you to know this by the way 🤫🤐 there are these special things called CDs 💿and bonds 🤑. You get to stake 🥩 your USD, or other fiat and get some juicy 🧃returns.
These investments are set to moon 🌚 🌙 any day now 🚀🚀 so strap in fellow apes 🦧🦍. Dicks out dicks out for harambe. Again, not financial advice 🤫🤐
I’m no legal expert but it seems like a silly lawsuit to me. If I drink too much and get liver cirrhosis, can I sue Miles Teller for dancing around in a bud light commercial? If I get a concussion playing backyard football, can I sue the NFL for advertising their games?
I’ve never once expected anyone on any advertisement to know the intimate financial details of whatever company they’re promoting. Hell, most of the employees don’t know that stuff.
Being an influencer looks risky.
They were basically promoting a scam. The question is of who made money off promoting it.
Technically, Larry David never endorsed it.
Yes these are scummy and should be registered in order to be on the books as securities.
But why is it that our fed can allow/promote for bank assets that are just as risky , just to then bail them out.
Stop using anything you see in any ad because you saw it in an ad ever. Also block all ads on the internet. You can even get extensions to skip sponsor segments in youtube videos. You are welcome.
Damn, I used to listen Graham Stephen like every day, so this one hurts.
He’s partnered with a few less than credible people over the years now.
Good. Fuck these people.
“This is not financial advice but YOU REALLY NEED TO BE PUTTING AS MUCH MONEY AS YOU CAN INTO BULLSHITCRYPTO DOT COM, RIGHT NOW!!! IN ALL MY YEARS AS AN INFLUENCER, THIS IS ONE OF THE BEST OPPORTUNITIES I HAVE EVER SEEN!!!!!!!
The following is a personal anecdote but I JUMPED INTO BULLSHITCRYPTO AND HAVE ALREADY DOUBLED MY MONEY!!!
Past results are no guarantee of future returns BUT THE TRAIN IS JUST NOW LEAVING THE STATION, AND IT’S NOT TOO LATE TO JUMP ON BOARD!!!!!
It’s your decision, of course, and you bear sole responsibility for your results, but ARE YOU GOING TO BE A BRAVEHEART OR A NAYSAYING FOOL?
I am not a financial advisor but YOU DON’T HAVE TO BE A GENIUS TO RECOGNIZE THIS OPPORTUNITY!!! IF YOU DON’T JUMP IN NOW, YOU MUST HATE MONEY!!! IN SIX MONTHS, YOU CAN EITHER BE RETIRED ON THE BEACH, OR KICKING YOURSELF IN THE REAR END MORNING NOON AND NIGHT!!!!
You should consult with a financial advisor before making any investment decisions SO WHAT ARE YOU WAITING FOR? BULLSHITCRYPTOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!
Can I sue the Reddit accounts that spent 2018-2020 graphing continuous rapid growth of bitcoin before the fall?
Chelsea Fagan’s call out of her fellow YouTubers who promoted crypto is my porn. [linked here](https://youtu.be/LHUrKXBEpok)
People who listen to tech bros and influencers deserve what they get.
The sooner that people realize that “financial influencers” make money by content they create rather than in the market the better. All these creators regurgitate what’s already been reported on and claim that it’s their theory – gas lighting themselves and their followers.
As someone who has traded since the 90’s, worked in a brokerage with a security 7, and day traded for past 20 years for a living I can say with 100% confidence – anything you pay for or watch/click is bull shit. They either are pitching a system that is a broken product, trying to engage you for ad revenue, or using you for the pump so they can dump. Ain’t nobody making you rich, you have to make yourself rich. And media like MSNBC, Bloomberg, Seeking Alpha, etc are all bullshit weathermen. All of it is BS. You are the sucker at the table.
Funny as these finfluencers call themselves expert and have no background whatsoever and are fucking peddlers. Anyone with a finance background knows day 1 these guys are scammers. Glad they’re being sued.
I mean, if you’re taking financial advice from random people, what do you honestly expect?
How that guy driving and talking in his phone like this ? This in general would make me not trust him
Can we change the name “influencers” to “twats?”