The Financial Conduct Authority (FCA) warns people about the risk of investing in cryptocurrencies, referencing price volatility, product complexity, charges and fees, marketing materials and consumer protection. 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Influencers like disc jockey Diplo, YouTube star Jake Paul and platinum-selling rapper Lil Yachty touted SafeMoon, though none were compensated for doing this, according to Karony. SafeMoon’s Twitter account now has more than 968,000 followers.
