The U.S. Securities and Exchange Commission (SEC) has begun cracking down on cryptocurrency influencers, issuing several fines and cease and desist orders over the past few years.
The SEC is going after crypto influencers who promote scam projects, and the SEC has found that the prices of certain tokens are being manipulated based on their tweets.
Former U.S. Securities and Exchange Commission Chairman John Reed Stark warned such cryptocurrency influencers on Twitter to prepare for a blow.