The Federal Trade Commission (FTC) of the United States is <a href="https://www.bloomberg.com/news/articles/2022-12-05/ftc-investigates-crypto-firms-over-misleading-advertising" target="_blank" rel="nofollow noopener">looking</a> into a number of <a href="https://www.cryptoknowmics.com/news/binance-custody-to-safekeep-wemades-wemix-cryptocurrency">crypto</a> firms for potentially fraudulent or misleading ads for cryptocurrency. FTC spokesperson Juliana Gruenwald stated that the agency is looking into multiple corporations for alleged misbehavior with digital assets.
<h2>Crypto Firms Under Investigation For Misleading Ads</h2>
Gruenwald didn't elaborate on the companies that were the focus of the inquiry or the circumstances that led to it. But this year in the U.S., the subject of dishonest advertising and promotion has become popular.

<a href="https://www.cryptoknowmics.com/news/kim-kardashian-faces-sec-charges-illegally-promoted-crypto-securities">Kim Kardashian</a>, a reality TV celebrity, was penalized by the <a href="https://www.cryptoknowmics.com/news/crypto-control-strategy-of-sec-chair-under-scrutiny-as-ecosystems-fall">Securities and Exchange Commission (SEC)</a> of the United States in October for lauding on media platforms about the EthereumMax (EMAX) <a href="https://www.cryptoknowmics.com/news/starkware-launches-starknet-crypto-token-on-ethereum-blockchain">cryptocurrency token</a> while concealing that she had received $250,000 in compensation to do so.
<h2>Mission of Federal Trade Commission</h2>
The Federal Trade Commission (FTC) was established as a free-standing American government organization with the mission of defending the general public against dishonest or unfair corporate practices.

They warned about a <a href="https://www.cryptoknowmics.com/news/indias-ed-accused-chinese-controlled-unit-for-crypto-scam">cryptocurrency scam</a> earlier this year. It has three main elements: a fake user, a QR code, and a cryptocurrency <a href="https://www.cryptoknowmics.com/news/tether-usdt-to-be-available-in-over-24000-atm-across-brazil-from-3-nov">ATM</a> where the consumers would be instructed to transmit money. Additionally, they stated in a study dated June 6 that as much as $1 billion in cryptocurrency had been lost to fraudsters during the year. It had about 50% of all scams relating to cryptocurrencies in 2021 that came through social media sites.

US Consumer Group Investigates Crypto Firms for Misleading Ads

FTC of the United States is looking into a number of crypto firms for potentially fraudulent or misleading ads for cryptocurrency.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

US Consumer Group Investigates Crypto Firms for Misleading Ads

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