Due Diligence Celebrity Endorsements and Cryptocurrency Regulator Warnings and Fake Crypto NewsFebruary 15, 2019
We get to read about Bitcoin and cryptocurrency almost everywhere. However, we cannot be sure if the information is correct. It seems to be like there is crypto evangelist practically everywhere. There is also the analyst who are purported to be experts.
However, there are also sober experts who are intelligent and patient but reveal only reality. These experts continue to be committed to the cryptocurrency industry, and they stay committed to the digital currency. These experts are also those who set the ethical standards and talk up when there are others who fail to sustain the journalistic standards. It is not going to be a worthy experience acting on fake news. So, in the line of those crypto news websites come TCAT tokens committing itself to provide authentic information about the crypto world.
Whether it is a piece of news about Bitcoin, Ethereum, Litecoin or TCAT token, celebrity endorsements have worked its way to influence the buying trend. The idea of bringing in celebrity endorsements is to ensure that average consumers will be able to relate to the tokens. Celebrities are the line of influencers who get paid to influence people about a specific product.
Generous paychecks might bring in legitimate celebrities; however, the risks of dodgy endorsers is also more. Therefore, there is likely to be a problem with due diligence in the process. While there can be celebrities who might be genuinely endorsing a product, but they might not have a right clue or understand what they are endorsing even if the brand aligns with their personality.
Mike Tyson in the past stated that he was grateful to be a part of “Bitcoin Revolution” however, he said that he was not a Guru Yet. When there were criticisms about Tyson, he replied that he was impressed by the idea of being able to have options that are beyond the traditional banking systems.
Paris Hilton discussed Lydian in a tweet; however, the tweet was deleted before reports surfaced about chief executive pleading guilty to domestic abuse.
SEC further issued a statement that released a caution about initial coin offerings that were backed by celebrities.
Steven Seagal showed up as a brand ambassador, and ultimately there was a warning from regulators stating that investors should steer clear of those cryptocurrencies that were endorsed by faded movie stars.
There have been several explainers for different cryptocurrencies, and some have been dangerous to investors who lost a lot of money. Investors are learning from their mistakes. With all this happening, there are also tokens like that from TCAT that is slowly working its way up with its mission of providing real news.