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
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