Elon Musk's Twitter Has a Cryptocurrency Swamp to Drain
Social media platforms are breeding grounds for digital currency scams. That needs to change.
Where the crypto gang hangs out.
Photographer: Chris Ratcliffe/BloombergA certain pet-themed cryptocurrency that needs no extra publicity from me says it’s back marketing its digital wares on London’s public transport system. Only this time, its advertisements bear the paw-prints of regulators. After an initial campaign was banned for dangling mega-gains to investors, it now touts itself as a source of “ecosystems” and “crypto education.”
The small print reminds passengers that crypto is unregulated and can go down as well as up – not exactly the stuff of Mad Men. But it’s symbolic of a hype-driven sector that’s been chastened by the first snowflakes of a crypto winter, with a boom in pandemic speculation giving way to plunging prices, job cuts and regulatory crackdowns.