RE: Is this, finally, the death of the catchphrase "Not Financial Advice"?
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I always look forward to your posts. I think something needs to be done to when it comes to big names pushing crap coins out to their followers. Some have been charged. Kim Kardashian was charged for promoting a crap coin and was charged $1.26 million. How much did she make off of promoting that coin though? Also why did she not get charged with some type of crime? If I or someone like me did that then we would have had the hammer come down and we would have gotten jail time, probation, and a bunch of community service or fines. I guess money talks. I agree something needs to be done and there need to be stricter rules when it comes to big-name celebs promoting coins just for profit.
Thank you and yes. I totally agree with you. The main problem I see with this, as with most fines. When you are rich, fines just become a business expense. It is simply something you take into account and pass on the cost to your customers.
Floyd Mayweather is another example of the system not working. I think he was both fined and slapped with a ban on promoting his scames for a year. And on the day the ban was lifted he was back doing it.
I will have to look up the Mayweather story. I did not know he did something like this. Hopefully, as time goes on we will see more happen but I am thinking if you have money then you will be able to get out of trouble no matter what happens.
That does do appear to be the case.