FTC investigating crypto firms over misleading advertising: Bloomberg

Quick Take

  • The U.S. Federal Trade Commission is investigating several unnamed crypto companies for alleged deceptive advertising practices, Bloomberg News reported.

The U.S. Federal Trade Commission is looking into several unnamed crypto firms over allegations of deceptive or misleading advertising, the agency told Boomberg News.

A spokesperson for the regulator confirmed it was investigating “possible misconduct concerning digital assets” but didn’t provide any further details.

Regulators have called for increased scrutiny of crypto companies in the wake of the collapse of the FTX exchange. 

In October, the Securities and Exchange Commission charged Kim Kardashian with unlawfully touting a crypto security, saying she didn't disclose payment received for the promotion of EthereumMax's token. She agreed to pay $1.3 million in penalties and said she would work with the SEC on its ongoing investigation.

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