Last week, Mashable published an article about “the shady world of influencers promoting cryptocurrency.”
The article describes how s***coin creators started paying influencers to promote their cryptos, causing pump-and-dumps. Both Kim Kardashian and Tana Mongeau are apparently involved in the scam fad. Oof.
Mashable also made a high-profile charge against members of the esports organization FaZe Clan. Mashable claims members of the clan participated in“influencer pumps” of two separate cryptocurrencies. The prices of both cryptos tanked after their promotions.
Last night, FaZe Clan responded by removing one member and suspending three others. The organization said it had “no involvement” with influencer pump-and-dumps, implying FaZe was unaware of its members’ activity. 🤔
Who pays when investors get burned? If subtweets are any indication, it looks like FaZe and its suspended members might have some legal woes. 🤭 ⚖️