The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

Kim Kardashian Instagram cryptocurrency creates a frenzy

3 min reading

Influencers such as Kim Kardashian are trying to entice consumers into cryptocurrency with false promises of easy money, according to the UK's financial regulator in a speech on Monday

Influencers like Kim Kardashian are tempting consumers into cryptocurrency with false promises of easy money says the UKs financial regulator in a speech on Monday. Charles Randall, Chair of the Financial Conduct Authority stated that regulators should get the power to protect consumers and if people are ready to buy crypto tokens, then “you should be prepared to lose all your money.” He stated.

“When she was recently paid to asl her 250 million Instagram followers to speculate on crypto tokens by ‘joining the Ethereum Max Community,’ it may have been the financial promotion with the single biggest audience reach in history,” Randell said. Even though Kardashian stated that it was “a #AD,” Randall believed that she “didn’t have to reveal” that she trying to promote “A speculative digital token created a month before by unknown developers one of hundreds of such tokens that fill the crypto-exchanges.” 

“These tokens have only been around for a few years, so we haven’t seen what will happen over a full financial cycle,” Randall said. “We simply don’t know when or how this story will end, but as with any new speculation it may not end well.” The FCA called online platform like Facebook Inc., Microsoft Corp., Twitter Inc. and TikTok to join Google for trying to stop promoting advertisements for financial products which has not been authorized by FCA. Kardashian’s publicist and a spokesperson didn’t release a statement and according to Randall she hasn’t done anything seriously wrong. 

The FCA doesn’t handle the types of tokens stated by Randell, but it has published a list of unregistered crypto exchanges that they think are operating in the U.K to help consumers avoid using them. During last month the regulator brought down one of the crypto trading firms after it failed to give the necessary information about its business operations, corporate structure and ways that retail consumers used its products. 

Currency Exchange rate Buy cryptocurrency

The new DEFI platform enters the market! Earn passively - token sale 0.25 $

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.