While they usually command huge and eager followings, their audiences, more often than not, have little, if any, knowledge of crypto. Additionally, celebrities often have no idea about the risks associated with the products they’re promoting.
Let's take a look at a few of Bitboy's scam involvements:
-In Fall 2020 Bitboy worked with $MYX and even was warned by community members. Bitboy has since deleted the video, of course.
Source(1): https://twitter.com/zachxbt/status/1478082069892943876?s=20&t=RvmVnrXkGH-lTXm5bDrWEA
-Also in fall 2020 Bitboy worked with $DISTX a video he titled “my most trusted coin” He went on to change the video title later on. The video also had zero promotion disclosure & project exit scammed.
We’ve seen how Kim Kardashian and Floyd Mayweather faced legal action for unlawfully promoting crypto tokens, but they both escaped the consequences only leaving the crypto market hurt.
AND THESE WERE JUST A FEW EXAMPLES for you to see what kind of scammers we need to protect the newcomers and the whole market from.
The ENDORSEMENT OF EDUCATED crypto influencers who CARE ABOUT THE CRYPTO MARKET and provide value would be so important, especially these days.
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