Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda - page 10.

dkbit98

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Quote from: rdbase on October 03, 2022, 09:40:48 AM

Great news for all of cryptocurrencies about now, huh, wouldn't you agree?
This is going to drive away mainstream investors and have an affect for the rest of the Crypto Winter that we are all in right now.

Not sure if this is great news for Bitcoin, they could easily turn their guns towards Bitcoin in the same way with a slight story change.
I don't trust anything that government does, they don't care about people and they don't want people to have any freedom, especially with the money.
Just wait until they switch into fifth gear with their CBDC crap soon, and than you will see similar twitter posts about Bitoin. Tongue

Shame (for them) they can't find, arrest and prosecute the real Satoshi Nakamoto Wink

rdbase

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Seems that since this story broke ethmax token that caused this lawsuit of being a scam has pumped in its price 95%.
https://cryptopotato.com/emax-token-skyrockets-95-after-kim-kardashian-agreed-to-pay-the-1-26-million-sec-fine
Sin city crypto did a retrospective on this case and what it means for cryptocurrenies being shilled via these influencers:
https://youtu.be/e-Yudo38nTg

So why doesn't the SEC do an investigation of these altcoins and find the founders and put a case towards them to try and shut them down?

It happened with Do Kwon and Terra Luna having Interpol issuing a red notice against him.

btc_angela

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This is not new though, SEC has been targetting this so called crypto influencers, specially if they are stars or celebrities in their own right. Back in 2018, they have a case against Floyd Mayweather and DJ Khaled

https://www.sec.gov/news/press-release/2018-268

Quote

Without admitting or denying the findings, Mayweather and Khaled agreed to pay disgorgement, penalties and interest. Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest. In addition, Mayweather agreed not to promote any securities, digital or otherwise, for three years, and Khaled agreed to a similar ban for two years. Mayweather also agreed to continue to cooperate with the investigation.

So now it's the (in) famous Kim Kardashan turn now to settle the case court and just pay.

rdbase

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Quote from: Beefcake on October 03, 2022, 03:26:01 PM

I remember the video they made against meme stocks. They got no business doing this sort of thing, it's pretty f****d up that the sec is targeting specific investments. But, I think many of us don't trust the SEC anyways. Word on the street is that GG is basically a criminal, but what do I know about such things? Nothing, that's what. I'll just hold and ignore the nonsense.

So this is a thing with SEC releasing propaganda videos when they have a law suit going forward?
They are something you would expect a teacher showing to a five year old in elementary school. Very basic concepts that any adult should know ebfore stepping out their door in the morning to avoid getting scammed out of their life savings.
I don't know what this governing body's main purpose for the world is up to this point.

Netflix has a docuseries that was just released about gamestop stonks so they might show that in there since it was the forefather of all meme stocks.
I am only half way through episode one so will have to let you know about that one.

Beefcake

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Beefcake!!!

I remember the video they made against meme stocks. They got no business doing this sort of thing, it's pretty f****d up that the sec is targeting specific investments. But, I think many of us don't trust the SEC anyways. Word on the street is that GG is basically a criminal, but what do I know about such things? Nothing, that's what. I'll just hold and ignore the nonsense.

mk4

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Paldo.io 🤖

Lmao I can't even count how much "influencers" need to actually be pursued by the SEC. Namely: Ben "BitBoy" Armstrong, Lark "CryptoLark" Davis, Ran "CryptoManRan" NeuNer, Michael "SuppoMan" Suppo, Tai Lopez, the list goes on.

rdbase

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Quote from: spectre71 on October 03, 2022, 11:09:56 AM

The pumpers hurt us way more than the SEC.

They are in a position they have to be careful especially when behind the wheel of a public company, ask Elon.

Elon is the worst one of the celebrity influencers with toting dogecoin and spewing what he thought of cryptomarkets on his skit on SNL last year.

The problem is with them doing this is that it direct affects bitcoin and it's view on it by the eyes of the entire world.
That is the impact that these kind of influencers have and even if you don't like it, it is a reality.
They can make or break markets with anything they promote or their view on something or someone in the media's eyehold.

They buy these alt coins and guess what they do with it, whether it be a altcoin whale or the creator, they sell it for guess what?
That is right: BTC
Then they exchange that for fiat and the price tumbles.
This is a rinse and repeat cycle for any of these pump and dump alt coins.

franky1

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why hasnt the SEC gone after all the BSV influencers

spectre71

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The pumpers hurt us way more than the SEC.

They are in a position they have to be careful especially when behind the wheel of a public company, ask Elon.

jackg

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https://bit.ly/387FXHi lightning theory

I think most people are aware by now they can't advertise for something and receive payments without disclosing that you are being paid for it/have an agreement. This looks like that. This might be more of a twitter problem with there being a limit to the number or characters they can use but they also didn't try to hide the reason.

Pumps and dumps are illegal too, there's a chance the sec going after unknown coins being advertised attracts people to bitcoin:
1. Because it makes it look like the sector is being regulated
2. The sec has had a fairly neutral position on bitcoin imo (it might come across as negative because the point in regulatory bodies is to find problems and things to target - bitcoin was once rife with lots of scams and may still be).

pooya87

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In a way what SEC did is admirable (if we ignore the motivation), to punish those who advertise or participate in any form in shitcoin pump and dumps, specifically tokens like the one Kardashian promoted and helped it to scam idiots who follow her.
This is illegal in almost all the countries around the world.

On the other hand, I said it many years ago that the "authorities" who feel threatened by bitcoin will eventually start treating the whole "cryptocurrency" scene that includes bitcoin the same because altcoins are being pumped and dumped and a lot of them are scams.

Unfortunately we can't do much about their FUD about bitcoin except trying to clarify the obvious difference between bitcoin and cryptocurrencies (aka altcoins) for the audience.

NotATether

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bitcoincleanup.com / bitmixlist.org

It's just a slap on the wrist for them since this is the second time she did this. The damage from the crypto ad is already done.

Meanwhile the actual pump&dump bros are probably partying in the Bahamas right now...

rdbase

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With the charging of social media influencer Kim Kardashian with promoting a crypto security to her many followers on all her socials, the SEC's head officer Gary Gensler has put a commercial comprising a couple of minutes as most cryptocurrency advocates would say a smear campaign against crypto as a whole with the likes of someone who looks like Jake Paul to prove a point.
With that point being they had successfully charged many celebrities in the past of doing the same thing Mrs. Kardashian had done on her twitter/facebook/instagram.
Those being Floyd Mayweather, DJ Khalid and Steven Segal.

source: https://www.coindesk.com/business/2022/10/03/us-sec-charges-kim-kardashian-for-promoting-ethereummax

Here is the link to this video posted on his twitter about four hours ago:
https://twitter.com/GaryGensler/status/1576897535427448832
The official tweet from SEC on this case against Kim Kardashian:
https://twitter.com/SECGov/status/1576904918413312001

source: https://www.washingtonpost.com/business/2022/10/03/sec-kardashian-crypto

Squawkbox from CNBC had been tweeting just this story several times within the last four hours (I counted 5 seperate tweets, why?!) but here is the first one that they show as "Breaking news!" Roll Eyes

https://twitter.com/SquawkCNBC/status/1576900024201609217

Great news for all of cryptocurrencies about now, huh, wouldn't you agree?
This is going to drive away mainstream investors and have an affect for the rest of the Crypto Winter that we are all in right now.

Topic: Gary Gensler's SEC sues Crypto Influncers and posts on his Twitter as propaganda - page 10. (Read 2912 times)