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News analysis
When social influence gets monetised in crypto exchange
Beware ethical, financial risks in pegging value of BitClout coins to influencers' popularity
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OCBC Bank's head of wealth advisory Kelvin Goh said it is crucial to look at crypto platforms' reliability, as some may not be regulated or even based here, which makes recourse difficult should things go south.
PHOTO: NYTIMES
Jolene Ang
Earlier this month, a Facebook post and tweet by Prime Minister Lee Hsien Loong made waves among investors and social media influencers.
He had asked for his name and photograph to be removed from BitClout - a social crypto exchange where users trade tokens based on people's reputations. It had used his profile without his knowledge.
