We've long known crypto influencers can be one of the shadiest people out there. Because we're dealing with an unregulated market, this environment naturally draws in the cockroaches, the worst kind of morally bankrupt people. And while they are sugar-coating their persona to make you believe that they are genuine human beings out here to do research instead of you and present you with the best investment opportunities, they are doing the exact opposite.
The standard modus operandi of your shady crypto guru is:
A) Get into a presale because you are big on social media
B) Shill the fuck out of it to your gullible followers
C) The coin pumps in value while presale investors and influencers dump on the unsuspecting plebs
D) Founders, VC's, influencers, and marketers profit while you are left holding a bleeding bag for years
Rinse and repeat until rich until acquiring the desired amount of wealth.
This is exactly how Ivan on Tech got most of his wealth, same with BitboyCrypto, Wolf of All Streets, Boxmining, the infamous Degen Spartan and many others.
The list is just goes on and on.
Some 70% of big time crypto influencers have shilled scams, literally valueless shitcoins, and pump/dumps at least once, while many others like BitboyCrypto and Ivan on Tech do it for a living.
When they inevitably get caught promoting a scam, or the coin simply drops by 50% after an initial pump, they just delete their tweets and they are off the hook! It's like nothing has happened, and they never even mentioned it before, or at least that's what they'd like you to believe.
Wolf of All Streets is a king when it comes to deleting tweets.
After most of the pre-sales he shilled went bust, he went on to delete every single one of the tweets where he promoted scammy pre-sales to his followers. Soon after, it cought the attention of an OG crypto legend CryptoCobain who outed him to the public. Consequently, he was roasted by the entire crypto Twitter community for his scumbaggery which was a rather fun thing to watch as some of the figures who were demonizing him were doing the same shit as Wolfy.
It goes without saying but as many are still unaware of this dirty practice, the same shady influencers are constantly partaking in undisclosed paid promotions for legit, more well-known projects. You might not think this is such a big deal as they aren't outright scamming you, or making you a bagholder of a questionable coin, but it's illegal to partake in paid promotions without full disclosure.
After taking this into consideration, and while simultaneously knowing that this is probably just the tip of the iceberg of the scumbaggery these dipshits partake in, it's more than obvious that no one should be taking trading advice from pseudo-anonymous cartoon characters on Twitter.
They are more often than not, inclined to make you lose so that they can win.
For that reason, I've unfollowed and even blocked most of these shady characters and I suggest you do some summer cleaning yourself.
Unless you want to invest in another 80% dump, and realize the losses for tax benefits lmao.