An international news media agency Reuters has issued a special report, according to which, many crypto companies do not disdain to purchase reviews for their products.
The special report by Reuters states that self-proclaimed social media personalities get thousands of dollars for promoting crypto-related products as an “independent expert.”
The report gives an example when a Ukrainian crypto startup, called Hacken was looking to promote its new asset. Hacken CEO, Dmytro Budorin, found approximately 200 crypto social media personalities which he thought could help to promote their project. The startup paid $7,5K for Christopher Greene, a youtuber with more than 500K subscribers.
Budorin says in interview with Reuters, in the 25-minute video review, Greene described Hacken as a “huge market opportunity” with “potential 1,000x returns.”
As a result, just a few days after Greene published his review, Hacken’s coin was up 14% on the day to $1.54 per asset.
Earlier, the rating agency Weiss Ratings revealed a list of cryptos that the agency believe investors shouldn’t buy. According to the authors of the assessment, the purchase of bitcoin diamond (BCD), aurora chain (AOA), credits (CS), and mixin (XIN) may be very risky.
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