#pump-and-dump

— Economic analyst and investor Steven Rattner on the worthlessness of Trump meme coins. In a clip used by John Oliver on a segment about Trump and crypto.

Crypto is crap. But when it finally crashes, a lot of stupid people who bought into it are going to be screaming about how nobody warned them about it.

Crypto is built on a lot of wishful thinking which makes Ponzi schemes look like great investments.

Trump called it a "scam" at first. But then he changed his mind when he learned that he could use it to get even richer by scamming dumb people.

BTW, here is the segment from Morning Joe where Steven Rattner originally made that comment.

Identifying and Avoiding Pump-and-Dump Cryptocurrency Scams: Pump-and-dump schemes are common in the cryptocurrency market. Since many rules are unclear and hard for regulators to enforce, some cryptocurrencies are easy targets for scammers and other bad actors. According to Chainalysis, in 2022, 445 people or groups launched 24 percent of the 9,902 allegedly pump-and-dump tokens. They estimated…

SEC Charges 18 Over Scheme Involving Hacked Brokerage Accounts

Home › Fraud & Identity Theft SEC Charges 18 Over Scheme Involving Hacked Brokerage Accounts By Ionut Arghire on August 17, 2022 Tweet The US Securities and Exchange Commission this week announced charges against 18 individuals and entities for their roles in a pump-and-dump scheme that involved account hacking. As part of the scheme, the participating individuals allegedly conspired with others…