TikTok's Crypto Problem: Misleading Investment Videos Rampant

TikTok's Crypto Problem: Misleading Investment Videos Rampant

A recent study by daapGamble has found that over one-third of crypto influencers on TikTok have posted misleading videos about Bitcoin and other cryptocurrencies, potentially convincing unwary viewers to invest their hard-earned money into risky ventures. The research analyzed 1,161 "cryptok" videos on TikTok, discovering that just one in ten contained disclaimers warning users about the risks of investing. Moreover, 47% of crypto TikTok creators were found to be pushing services to make money. The potential financial risk for investors remains high, with mainstream influencers such as Kim Kardashian, Jake Paul, and Soulja Boy previously accused of promoting cryptocurrencies without disclosing payments received. A $1 billion lawsuit was also filed against crypto exchange Binance, CEO Changpeng Zhao, and three crypto influencers for allegedly promoting unregistered securities. Experts advise that both new and seasoned investors should conduct extensive research on crypto projects before making any investment decisions.

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