For years now, people have been speculating that in the future, currency would be digital, and

not issued by central banks. For the most part, this hasn’t happened on such a large scale yet,

but the times something like it has happened, it’s been people making crypto currencies.

A crypto currency or “coin” is a piece of digital currency that consumers can buy as an

“investment” and nowadays are usually made by large figures on social media, or in politics.

Great examples of this would be Elon Musk and Hailey Welch because both have their own

cryptos. People are swayed to purchase these currencies from popular figures because they are

told that the value of the coins will go up with time, but something like that is almost never

guaranteed to happen.

The way that crypto works with supply and demand makes their value extremely unstable, which

is exactly why their upward gain in value cannot be predicted, so the people who purchased

these coins may or may not make money off of them. One of the most popular coins is bitcoin,

with a sitting value of $85,026 at the moment. The highest the value of bitcoin ever was, was in

December of 2024 reaching a value of $103,332 USD per coin!

While crypto can be beneficial to the purchaser (though it is rare), usually after purchase, its

value goes almost nowhere. The most recent example is a currency created by Hailey Welch

called $HAWK Token which crashed after a little while of being available for purchase. After the

crash of her currency, all of her social media went dark and purchasers of the coin were

outraged.

Hailey did appear in court for the hundreds of millions of dollars she made off of her failed coin,

but the case was dismissed and she is facing no charges for the damages. While it’s obviously

not ok to scam people out of their money, the purchasers are also half to blame as you can’t

really expect an influencer to know what they’re doing in an industry like cryptocurrency,

especially when their whole social media presence is just a catchphrase. There have been

several other influencers that have made crypto scams like this one and have also faced no

punishment.

These influencers should face some kind of punishment for the issues that they caused,

whether it be paying back money to the scammed (like Logan Paul did for his) or doing actual

prison time, which probably won’t ever happen. The bottom line is that people need to be more

aware of what they are doing with their finances, especially when it’s something as serious as

gambling on what could potentially be your life’s savings.