Finance Monthly - November 2022

Finance Monthly. F i nanc i a l Innov a t i on & F i nTech 33 It is essential to be realistic about the fact that most influencers are not financial experts and may not fully understand the risks involved in investing in crypto. his month, social media mogul Kim Kardashian was charged $1.26 million by the Securities and Exchange Commission (SEC) for failing to disclose that she was paid £250,0000 to promote Ethereum Max on her Instagram page. The rise of social media influencers has been a boon for many industries, but the crypto world is still divided on whether or not they are helpful to the space. Some believe that influencers are a necessary evil, helping to bring awareness to a still largely unknown industry. Others think they’re nothing more than shills looking to make a quick buck off unsuspecting investors. So, what’s the truth? Are crypto influencers a curse or blessing for the FinTech industry? The Rise of Crypto Influencers If you’ve ever scrolled through your Twitter or Instagram feed, you’ve likely seen an influencer in action. Influencers have become a mainstay in our social mediadriven world, from promoting a new product to simply sharing their daily life with followers. The crypto industry is no different. In recent years, we’ve seen

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