Yesterday, I wrote an article on a list of influencers that were shilling tweets to promote shitcoins. Today, we are going to be looking at a list of YouTubers, Instagramers, and TikTok. This list was also released by zachxbt on Twitter and had some pretty popular names. It has a youtube channel that a lot of us have been following. Can you take a guess on which one I am talking about?
Top YouTubers caught charging for paid promotion of tokens
The most important thing to promoting any project or token is the transparency you give your viewers. If you are taking money to help a project gain attraction, you have to say it’s a paid promotion. There are laws around it as well. But a lot of these YouTubers do not do that. So, if you have been following anyone from the above list, and they fall in such category, unfollow them.
Lets do one more paid shill leak. This time for YouTube, Instagram, and TikTok. pic.twitter.com/hb600a1cDE
— ZachXBT (@zachxbt) April 20, 2022
The most popular YouTuber on the list is Altcoin daily. He has a subscriber base of more than 1.2 million and charges $65,000 to shall new tokens. Even I have been following this channel, which I regret now. I don’t remember him saying anything about paid promotion in any of his videos.
On Instagram, most of the influencers aren’t too big, but there is a profile called ‘lil yachty’ charging $50,000 per post for shilling crypto. Now that sounds a lot, but this channel has a reach of over 10 million. So, even if 1-2% of people plans to invest in a promoted shitcoin, the project can pump substantially.
TikTok
I can understand people taking financial advice from YouTubers because there is actually a lot of good content on the platform. But TikTok? No! no! no!. If you have been watching finance videos on the platform, it’s time to reconsider that. Pages are charging up to $20,000 to promote shitcoins and could cost your life’s savings. The higher the follower base and influence, the more these pages charge for fooling their audience.
What are your thoughts as top Youtubers are caught charging for paid promotion of tokens? And do you think it’s time we stop believing anything we see on social media? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Ripple gets another win in the ongoing securities lawsuit with SEC.
