Global crypto exchange Binance will run a commercial warning against celebrity crypto endorsements during the upcoming National Football League Super Bowl championship game, according to AdAge. In a social media teaser of the ad, one of several crypto spots set to run during the big game on Feb. 13, National Basketball Association player Jimmy Butler encourages viewers to “trust yourself” and “do your own research.”
There’s significant irony to using a celebrity influencer to warn against celebrity influence – but the message itself seems positive, right? Celebrities taking big checks to give fake investment advice should be tarred and feathered. “Do your own research” is hard to argue against as a principle.
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The problem, unfortunately, is that the “you” doing the research is a gigantic idiot.
I certainly don’t mean you individually – perish the thought. You’re reading CoinDesk so I’m sure you’re very sharp. But statistically, there’s a lot of idiocy floating around, and a lot of people willing to take advantage of it. Many grifters, fakes and other bad actors have been drawn to the crypto industry, and the “do your own research” ethos can leave their marks particularly vulnerable.
The average American, to pluck just one indicator out of a hat, reads at a seventh- to…
