He began by suggesting that the Internet was full of excrement.
“Augean’s stables had not been cleaned for 30 years when Hercules was given the job of cleaning them. For 30 years, 3,000 animals had been doing in these stables what 3,000 animals have to do,” Randell said. . “The first website was released 30 years ago last month. And, like Augean’s stables, for the past 30 years, the Internet has been filled with a lot of … well, let’s say” content problematic “.
He then turned his attention to Kardashian, who, he noted, recently connected “Ethereum Max” to 250 million Instagram followers.
“In line with Instagram’s rules, it revealed it was a #AD,” Randell said. “But it didn’t have to reveal that Ethereum Max, not to be confused with ethereum, was a speculative digital token created a month earlier by unknown developers, one of hundreds of these tokens that fill cryptographic exchanges.”
“The hype around [cryptocurrencies] it generates a powerful fear of getting lost from some consumers who may have little understanding of their risks, ”Randell said.
For potential consumers, I also had a clear reminder: investing in cryptography is a huge gamble.
“These tokens are not regulated by the FCA,” Randell said. “If you buy them, you should be prepared to lose all your money.”
A record accumulation of cryptocurrency prices earlier this year brought down hundreds of thousands of new investors. The FCA now estimates that 2.3 million Britons are holders of cryptocurrencies, compared to 1.9 million in 2020.
“This class of assets has been fraught with fraud, scams and abuse in certain applications,” Gensler told the European Parliament’s Committee on Economic and Monetary Affairs earlier this month.