33: Who'll Stop Celebrities From Unlawfully Shilling Shady Crypto & NFTs to Their Fans? (w/ Bonnie Patten)
October 7, 2022
Bonnie Patten, executive director of Truth In Advertising (TINA), joins Scam Economy with Matt Binder to discuss the scourge of celebrity crypto and NFT endorsements. We discuss Kim Kardashian getting fined $1.26 million by the SEC for pushing a pump-and-dump token by EthereumMax, the celebrities hawking NFTs without disclosing that they were paid for their endorsement, TINA's recent work sending notices to those celebs, what Justin Bieber's team and Reese Witherspoon's team had to say to TINA regarding promoting NFTs, Jimmy Fallon's obsession with NFTs on the Tonight Show, what government agencies are going to step up and do something about it, why the FTC hasn't taken action, the CAA's role, Anthony Anderson's Candyverse NFT project, and why celeb endorsements of crypto and NFTs are so harmful to their fans.
Check out Truth In Advertising's work on celebs promoting NFTs: https://truthinadvertising.org/industries/celebrities-promoting-nfts/
Support the show: http://www.patreon.com/mattbinder