People Blame SEC Commissioner for Losing Their Crypto Savings in Her Twitter DMs
Abhimanyu Krishnan's original article for www.investinblockchain.com reduced by 49%
The crypto community is quite fond of United States Securities and Exchanges Commission Commissioner Hester Peirce, informally calling her "Crypto Mom" for her pro-Bitcoin and Bitcoin ETF stance. One would think that a crypto-friendly regulator like Peirce would receive positive messages from the crypto community, but she reveals that some are of a different kind. A range of messages, some blaming me for having lost all their money in crypto and some offering to give me their perspectives on what's going on in crypto.
My heart goes out to people who have lost a lot of money, whether it's in this kind of investment scam or any kind of investment scam, and that's why I really do encourage people, whether it's crypto or whether it's any other kind of investment, to ask lots of questions. Any legitimate investor in the space is aware that investments in the crypto market, however genuine the potential is and lucrative it could be, are risky and that the market does pose some dangers, especially given the volatility and ease with which an ICO can be launched. "It's important that people who are working in this area remember that they need also to be skeptical in their own decisions about where to invest their money.
So if someone just sends in money without asking questions of the person to whom that money is being sent or the group of people to whom money is being sent, and then loses money and expects the SEC to get that money back-don't necessarily assume that we can do that. My message is one of"Hold us accountable, but also be accountable yourself. The SEC is making an effort to review the digital assets space and facilitate discussions around it, creating a division called "FinHub" which will engage more closely with the crypto space.
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Summarised crypto news.