As the allegedly largest crypto channel on YouTube, it’s no doubt he has the audience necessary to move markets, at least with small cap coins. Yesterday, he dropped a video titled “Top 5 coins CRUSHING the market NOW (MASSIVE Crypto GAINS)”. Ok, ignoring the incredibly sensationalist and clickbait title, the video showcased his top 5 altcoin picks for short term gains. His top pick was Frontier, a relatively small <$100m market cap coin. He didn’t even give any reasons why this was his top pick, all he did was tease a video he was going to drop the next day. Immediately, Frontier doubled in price. Is this legal? I’m not at liberty to say. I don’t believe there are any regulations requiring he disclose his positions, like there are in US equity markets for example. Is it ethical? I don’t believe so. Even if he’s not required to disclose his positions, I absolutely think from an ethical perspective that he should. If he owns Frontier, he has a financial interest in its movement, and I believe that is a material conflict of interest.
Submitted February 18, 2021 at 12:29AM
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