Finra Issues Warning On Crypto-Related Stock Scams

Thursday, December 21, 2017
By Paul Martin

by Tyler Durden
Dec 21, 2017

Yesterday morning we explained the latest and greatest get rich quick scheme in the stock market as follows:

Now that it is abundantly clear that for a stock to explode higher, all that is necessary – and sufficient – is a press release mentioning the company’s name and throwing in the word “blockchain” in the same sentence (see Riot Blockchain, LongFin Corp, Net Element, and Nova Lifestyle) other public microcaps have decided that if that’s all it takes, then by all means they will gladly take investors’ money.”

This morning, the microcap formerly known as Long Island Ice Tea did just that when it changed its name to Long Blockchan Corp, sending its stock 500% higher.

Needless to say, idiocy like this will end in tears, and when the various sequential bubbles burst, they will sweep away with them any value-adding and non-fraudulent products and services that have emerged out of the cryptocurrency and blockchain technology. Which is why it’s about time for the regulators to step in and start halting such examples of manic investory stupidity before more people get hurt, or worse, suicided.

This morning, the market’s self-regulator FINRA, did just that, when finally it issued a warning titled “Don’t Fall for Cryptocurrency-Related Stock Scams” which, literally, boils down to one simple warning: “Do your research before purchasing shares of any company offering investment opportunities in cryptocurrency”, a warning that is applicable to every single investment, yet when people see 500% gains in seconds after an illiquid microcap company adds “blockchain” to its name, nobody actually bothers with.

Here is Finra’s full warning which of course, will be ignored until the whole sector crashes.

Don’t Fall for Cryptocurrency-Related Stock Scams

The Rest…HERE

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