Apparently, some celebrities used their social networks to advertise a cryptocurrency. In the list of those who made the disclosure, there are names that you probably know. That’s why, celebrities are sued for performing misleading cryptocurrency advertising.
Disclosure of Cryptocurrencies
Celebrities are being investigated for fraud. What happens is that many advertised a cryptocurrency on their social networks, but when people realized it, it was a scam.
Justin Bieber, Jimmy Fallon and Madonna are three names that are present in the huge list of famous names that participated in a collective action for an NFT company (kind of cryptocurrency) in the United States.
The allegations are that the company used some celebrities to promote/disclose the business (cryptocurrency), but they were nothing more than a pierced, or rather, a scam like that.
The famous were paid to use their networks and publicize what is called an investment fund that promised a quick return of a lot of money, they also promoted a series of benefits to NFT holders.
However, it was nothing more than a fraud scheme, and this caused immense damage to the people who invested or bought the currency. In addition to Justin Bieber and Madonna, celebrities such as Gwyneth Paltrow, Paris Hilton, Serena Williams, Post Malone, Snoop Dogg and Kevin Hart also appear as defendants in this action.
Misleading advertising is one of the reasons why the asset is still so stigmatized, however, people need to study and acquire knowledge about the issue to ensure that the investment is as safe as possible and that it gives the return that the customer needs.
NFT is nothing more than an acronym in English that means “non-fungible token”. They are codes that must not be copied or replicated.
Famous nationals also released the coin
It seems that in addition to the famous international ones, some national ones are also on the list and will be investigated. The name of Neymar, who has already appeared in the media as a major investor in the business, is also on the list.
An investor made a point of explaining how the sale, purchase or investment of cryptocurrencies works. And she drew attention by saying that it is extremely important to seek references from brokers, when applicable, or to study the area before taking a chance on this type of investment.