Braden Perry Quoted in Gizmodo Article on TikTok Users and Dogecoin

Braden Perry Quoted in Gizmodo Article on TikTok Users and Dogecoin

Gizmodo featured Braden Perry, among other experts, in an article on the recent TikTok viral video on Dogecoin.

Dogecoin is a cryptocurrency featuring a Shiba Inu as its logo, similar to the “Doge” internet meme. It was first introduced as a “joke currency” back in 2013, but after developing its own online community, reached a capitalization of $60 million the following year.

A TikTok user going by the name jamezg97 started posting about Dogecoin on June 28th, resulting in the #DogecoinTiktokChallange. In his most recent video, now with nearly half a million views, he tells users, “Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users. That’s just $25. Once it hits one dollar, you’ll have ten grand. Tell everyone you know.” While some people are expecting to get rich, others are wondering if it’s a pump and dump scam. Why isn’t jamezg97 facing SEC charges, or a ban from TikTok?

“It’s a new version of an old scheme,” Braden Perry, regulatory and government investigations attorney with the Kansas City-based firm Kennyhertz Perry, LLC, told Gizmodo—like boiler room phone calls and direct mail campaigns and message boards for penny stocks, except on TikTok steroids. It’s also the same as Coinye (parodying Kanye West), whose creators sold off all their coins on the first day.

To read this article in full: https://gizmodo.com/tiktok-users-discover-the-secret-to-getting-rich-dogec-1844294679

About Kennyhertz Perry’s Financial Services practice group:

Kennyhertz Perry integrates broad regulatory expertise, including compliance and enforcement, with the transactional practices to which that expertise is critical. We are called upon by businesses who need help navigating current and future regulatory challenges stemming from the global financial crisis. To assist our clients in understanding the issues that will affect their industries, entities and transactions, we understand the impact of regulations and requirements of both The Dodd-Frank Wall Street Reform and Consumer Protection Act and a wide variety of U.S. and foreign regulatory reforms targeting investment business and market structures, alternative investment fund managers, private equity and others, central clearing and exchange-trading of derivatives, market abuse and insider dealing, capital regimes, and commodity derivatives.

Kennyhertz Perry attorneys also have broad BSA/AML experience across the spectrum of bank and non-bank financial institutions. These include traditional chartered banks, broker-dealers, commodity trading advisors, money transmitters, non-bank lenders, and virtual currency businesses. We are experienced in counseling and drafting BSA/AML practices, policies, and procedures. Our combined knowledge and skill permit us to anticipate potential problems before they become serious issues and assist clients in responding effectively to regulatory and law enforcement criticisms or inquiries.

Kennyhertz Perry regularly counsels lenders, investment advisers, broker-dealers, and fund managers on the laws, rules, and regulatory developments affecting their business, including regulatory requirements, risk management, licensing and registration, sales and marketing practices and materials, manuals and training, day-to-day compliance.

About Kennyhertz Perry, LLC

Kennyhertz Perry, LLC is a business and litigation law firm representing clients in highly regulated industries. The firm was founded by two veteran Kansas City attorneys, John Kennyhertz and Braden Perry. To learn more about the firm, visit kennyhertzperry.com.

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