A BRITISH financial regulator called out Kim Kardashian over her Instagram promotion of cryptocurrency Ethereum Max.
Charles Randell, chair of the Financial Conduct Authority, concerned about the lack of regulations for online promotions, said “But social media influencers are routinely paid by scammers to help them pump and dump new tokens on the back of pure speculation.”
“Some influencers promote coins that turn out simply not to exist at all,” he continued during a speech to the Cambridge International Symposium on Economic Crime.
Meanwhile, Tom Brady and Gisele Bundchen are starring in a $20million commerical for cryptocurrency firm FTX.
The price of Bitcoin dramatically dropped more than 10 percent on Tuesday as El Salvador suffered problems in the rollout of the cryptocurrency…