The U.S. Securities and Exchange Commission (SEC) has issued a warning to investors about celebrity-endorsed initial coin offerings (ICOs).
The agency said:
The SEC also warned potential investors to not base their decisions solely on the endorsement of a celebrity.
"Investors should note that celebrity endorsements may appear unbiased, but instead may be part of a paid promotion. Investment decisions should not be based solely on an endorsement by a promoter or other individual," the agency wrote.
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