'Toxic Cocktail': EU Watchdog Calls Out Instagram, TikTok for Enabling Crypto Scams

Leading social media networks have been targeted by the BEUC for allegedly allowing misleading cryptocurrency ads.

• 2023-06-10
• social media BEUC European authorities digital assets TikTok European Union

Social Media Targeted in EU Consumer Group Complaint About Crypto Ads

BEUC wants Instagram, YouTube, TikTok and Twitter to prohibit influencers from promoting crypto

• 2023-06-08
• social media networks European Union BEUC TikTok Monique Goyens consumer organizations consumer protection National regulators YouTube Twitter

Instagram, YouTube, TikTok, Twitter target of EU crypto advertising complaint

Meta Platforms' Instagram, Alphabet's YouTube, TikTok and Twitter could face regulatory action after European consumer group BEUC complained to the European Commission and consumer authorities that the online platforms allegedly facilitate the misleading promotion of crypto assets. U.S. regulators suing crypto platforms Coinbase and Binance, along with last year's collapse of FTX, have sparked concerns over consumer protection related to crypto assets such as bitcoin and ether. The European Un

• 2023-06-08
• European Commission TikTok Twitter YouTube crypto assets BEUC social media platforms European Union misleading advertisements Consumer Protection Cooperation Network Instagram

TikTok Influencer Used Bitcoin to Launder $420K in COVID Relief Loans

Danny Devan racked up more than $420,000 in PPP and EID loans, then used the money to settle debts and send money to his girlfriend, authorities say.

• 2023-06-02
• Danny Devan PPP Economic Injury Disaster Loans aggravated identity theft federal court money laundering Bitcoin TikTok

As banks totter, crypto is busy racking up gains

This is Alex and we are here to do our Monday show, a kickoff for the week that covers startup news, tech news and a little bit of the money that powers both. After a hectic few weeks, are we done with banking news? News that TikTok is now more popular than ever is compounded by massive gains in the popularity of other Bytedance apps in the United States.

• 2023-03-20
• tech news startup news TikTok