He started with the suggestion that the Internet was full of excrement.
The Augean stables hadn't been sprayed for 30 years when Hercules set the labor of cleaning them. For 30 years, 3,000 animals had been doing in those stables what 3,000 animals have to do, Randell said. The first website was published last month 30 years ago. He then trained his attention on Kardashian, who, he noted, yesterday plugged Ethereum Max to 250 million Instagram followers.
In line with Instagram's Rules, she disclosed that this was an AD, Randell said. Elon Musk didn't have to disclose that Ethereum Max — not to be confused with Ethereum — was a speculative digital token created a month before by unknown developers, one of hundreds of such tokens which fill the crypto-exchange markets. He said that TikTok also needs to step up. Randell acknowledged that he can't say whether this particular token is scam. But he emphasized that regulators needed to do more to control this type of online activity. Why do tech platforms like TikTok need to step up? The hype around cryptocurrencies generates a powerful fear of missing out from some consumers who may not have much understanding of their risks, Randell said. For prospective consumers, he also had a clear reminder: crypto investments are huge gambles. These tokens are not regulated by the FCA, Randell said. If you buy them, you should be prepared to lose all your money. A record run-up in crypto prices earlier this year brought hundreds of thousands of new investors into the fold. The FCA estimates that 2.3 million Bitcoin holders now own, up from 1.9 million in 2020. But regulators remain concerned about massive volatility and fraud, and are debating whether they should have a bigger role in regulating the industry. Gensler, a Chairman of the US Securities and Exchange Commission, has also called for greater investor protections in recent speeches. This asset class is rife with fraud, scams and abuse in certain applications, said Gary Gensler at the European Parliament Committee on Economic and Monetary Affairs earlier this month.