Former SEC chief warns influencers about prosecution for crypto price manipulation
The SEC has started clamping down on crypto influencers, issuing several fines and cease and desist orders in the past few years. The United States Securities and Exchange Commission (SEC) is pursuing crypto influencers who have promoted scam projects and are found to be manipulating the price s of certain tokens via social media. Former SEC chief John Reed Stark took to Twitter to warn crypto influencers to be ready to face prosecution . Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not at your peril. Not only will you eventually get caught, but your prosecution will also be like shooting fish in a barrel. Whether manipulating the price of exchange… pic.twitter.com/AfKROIlR0N — John Reed Stark (@JohnReedStark) May 30, 2023 In his tweet, Stark called out social media crypto influencers who shilled numerous sketchy crypto projects and often helped them manipulate market prices during the bull run. He warned that for a...