30s Summary

Cointelegraph warns of potential scams and market manipulation in the crypto-focused corner of Twitter. The article suggests that some apparently independent influencers are influencing coin prices and making profits from undisclosed partnerships. They use their profiles to gain trust and encourage followers to invest without conducting proper research. The lack of transparency leaves followers believing they are getting unbiased advice. To avoid these pitfalls, investors should research thoroughly, be aware of undivulged partnerships, and remember that knowledge is power.

Full Article

In our latest video on Cointelegraph, we’ve delved deep into some of the risks you might be taking when you seek financial tips on X, aka Twitter. Don’t get us wrong, we love that Twitter’s the beating heart of the crypto crowd, but it also has its fair share of scams and market manipulation.

We’ve got a great line-up of famous faces from the crypto world and industry gurus who chat about how some big-name social media folks can push coin prices up in ‘pump-and-dump’ tactics. These guys hype up some tokens to send the prices sky-high, then sell at the very top, leaving everyday investors stuck with assets that aren’t worth the digital space they’re stored on.

Our interviewees pull back the curtain on how the crypto chitchatters use their personalities to gain the trust of followers, making it easy for folks to risk their hard-earned money without doing the necessary homework.

A major problem in this game is the lack of transparency. Many involved in the chatter fail to ‘fess up when they have a vested interest, leading followers to believe they’re getting advice that’s unbiased. When in fact, these influencers could be pocketing extra cash from partnerships they’ve intentionally left undisclosed with token projects.

For more info on the pitfalls of Crypto Twitter and tips on how to steer clear of them, check out our full video over on our YouTube channel. Remember, knowledge is power!

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