In this file photo, Bitcoin mining machines in a warehouse at the Whinstone US Bitcoin mining facility in Rockdale, Texas, on Oct. 10, 2021. Credit: Mark Felix via TNS
Kim Kardashian has been sued by the U.S Securities and Exchange Commission after posting advertisements on her Instagram promoting the purchase of cryptocurrency without providing that she was being paid. EthereumMax, the cryptocurrency company that paid Kardashian, is facing claims about running misleading schemes with the help of influencers after it crashed following her post, according to Rolling Stone.
Sam Ruskin, president of the cryptocurrency and block chain investment club, said now more than ever, it is important for Ohio State students interested in cryptocurrency to understand what they’re investing in.
“The way that I see crypto is that it’s a way of building this whole new internet,” Ruskin, a fourth-year in finance, said. “It allows for more productivity, it kind of offers a charitable approach to delivering projects.”
Cryptocurrency, according to Coinbase, is decentralized digital money designed to be used over the internet. Created in 2009, crypto has now gained popularity on social media apps but still lacks first-time user clarity, which can lead to bad investments.
“The problem is, it hasn’t really been demystified yet, which I think needs to be worked on,” Ruskin said.
Julia Whiting, president of the media literacy club at Ohio State, said it can be easy to fall…
