by Kevin Helms
The U.S. Securities and Exchange Commission (SEC) has launched a game-show campaign to help investors make informed decisions “in a playful way.” One of the contestants in the game show chose to listen to a celebrity and invest in crypto.
The SEC’s Office of Investor Education and Advocacy unveiled “a game show-themed public service campaign” last week. Titled “Investomania,” the campaign aims “to help investors make informed investment decisions and avoid fraud.”
The campaign features a 30-second TV spot, interactive quizzes, and 15-second informational videos on crypto assets, margin calls, and guaranteed returns, the SEC detailed, elaborating:
The campaign encourages investors to research investments and get information from trustworthy sources to understand the risks before investing.
In the TV spot, the game show host asks two contestants to pick a square on a video game board with investment options. They included internet rumors, celebrity endorsements, stock tips from your uncle, crypto to the moon, fear of missing out (FOMO), meme stocks, tulip bulbs, guaranteed returns, and timing the market.
One of the 15-second videos was about investing in crypto. In the video, a celebrity encourages investors to take their advice and buy crypto assets.
The SEC described:
After the contestants make their choices, the video shows, in a fun and comedic way, the consequences of a good or a bad choice.
“Sometimes investing may look and feel like a game,” the SEC noted. “Our ‘Investomania’ public service campaign uses a game show concept to educate investors in a playful way that investing is not a game and that they should do their due diligence when making investment decisions.”
The securities watchdog concluded:
Bottom line — don’t play games with your financial future.
What do you think about this SEC game-show campaign? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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by Kevin Helms