On June 27th, the Chinese media outlet Beijing Business Daily published an article titled “Bitcoin’s Soaring Market Triggers Illegal Speculation Activities, OKX Resorts to ‘Indirect’ Marketing.”
Beijing Business Daily reporters noticed a resurgence in speculative activities related to virtual currency trading, following Bitcoin price climbing above the $30,000 mark.
The reporters observed that platforms such as OKX were running advertisements on certain cryptocurrency websites, offering “free Bitcoin upon registration.” Upon investigating further, the reporters found that clicking on the ad would redirect them to Okex’s trading platform. Users could register an account and undergo identity verification to proceed with purchasing cryptocurrencies such as Bitcoin. However, as of the time of reporting, the advertisement had been taken down.
Apart from illicit marketing activities by exchanges, scams and illegal fundraising schemes disguised as virtual currency ventures continue to proliferate. In response to this, the People’s Bank of China recently issued warnings titled “Beware of Risks Related to NFTs and Metaverse Speculation” and “Say No to Illegal Financial Activities in Virtual Currency (crypto or digital asset) Trading Speculation.” Analysts believe that consumers must remain vigilant, enhance risk prevention awareness, and actively steer clear of speculative activities such as virtual currency trading to avoid falling into related illegal and criminal traps.
Mariah Carey has now solidified her stance in the bitcoin industry. The five-time Grammy winner had teamed up with the Winklevoss twins’ crypto exchange Gemini to launch a campaign that was aimed at empowering women around the world using crypto. The singer announced the partnership with Gemini via Instagram. In the informative Instagram post, Mariah Carey encourages people to sign up on Gemini and learn about crypto.
Carey boasts a following of over 10 million on the platform and is using her influence to encourage more women to get invested in the space. Although the post was tagged as a paid partnership, its value to the crypto space cannot be overemphasized. With more women in positions of power and influence getting in crypto, everyday women are inspired to explore the space and see what opportunities it could hold for them
Free $20 Bitcoin On Signup
Carey’s partnership with Gemini also comes with an upside for her fans. The singer announced in the post that if they used her link to sign up on Gemini’s exchange platform, then they will get $20 worth of free bitcoin on sign up.
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In the video, Carey also talked about investing in bitcoin. She addressed one of the most common misconceptions when it comes to investing in BTC, which is that an individual will have to purchase a whole bitcoin to get started. Mariah Carey explained to her 10.2 million followers that they did not need to buy a whole BTC to get started. Instead, they could buy small portions of a bitcoin to get started.
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The singer said in the video that Gemini’s free educational materials helped her learn about space. As of today, the video already has over 500,000 views and has been making the rounds on social media.
Helping Women In STEM
It is no secret that the ratio of men to women in STEM fields is highly disproportionate. This has been due to the field being historically viewed as a field for men only. The ratio of women of color in the field is even more disproportionate and this has spilled into other fields like the crypto industry.
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Black Girls Code is a not-for-profit organization that was founded in 2011 to combat this glaring issue. It provides support and pathways for women of color to get into the field of tech, and Mariah, in conjunction with Gemini, is supporting the cause.
A portion of the trades made by users who sign up using the singer’s code will go to the not-for-profit. So in addition to giving users $20 in bitcoin on signup, an organization dedicated to the growth of women of color in the STEM field will profit off the partnership too.
Featured image from Vulture, chart from TradingView.com
