Hester Peirce: Memecoins Remain Beyond SEC Protection

user avatar

by Giorgi Kostiuk

2 years ago


SEC member Hester Peirce, widely known as 'Crypto Mom', has once again issued a warning about the dangers of investing in memecoins.

Warning from Hester Peirce

Hester Peirce, known for her positive approach to cryptocurrencies, has once again highlighted the risks of memecoins. She emphasized that memecoin investors are not shielded by federal regulators. This statement came the same day LIBRA memecoin was alleged to be a scam.

"You're on Your Own if You Suffer Losses"

On the Bankless podcast, Peirce warned memecoin investors not to expect protection or assistance if they endure financial losses, noting that memecoins may fall outside the jurisdiction of federal regulatory bodies.

Investor Responsibility

Peirce assured investors of the need for prudent risk management, emphasizing that government protection should not be counted on. She reminded traders that memecoins may elude SEC oversight and called upon them to take responsibility for their investments.

Just because something is very popular doesn't mean it falls under SEC jurisdiction. I am a big believer in people having the freedom to spend their money however they want, but we must accept the responsibility that comes with those choices.

Peirce's warnings underscore the necessity of responsibility and a cautious approach when investing in volatile assets such as memecoins.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Federal Reserve Pauses Interest Rate Hike for Upcoming FOMC Meeting

The Federal Reserve is not expected to raise interest rates at the upcoming FOMC meeting, as indicated by recent forecasts and comments from Fed officials.

user avatarMaria Fernandez

Citigroup Increases Price Targets for Bitcoin and Ethereum

Citigroup has raised its 12-month price targets for Bitcoin to $113,000 and for Ethereum to $3,028, citing stronger activity in crypto markets and ETF inflows.

user avatarGustavo Mendoza

TopNod Introduces Axil Pot APT for Enhanced Onchain Yield Management

TopNod has launched Axil Pot APT, a new onchain yield vault that allows users to earn an estimated 8% APY while maintaining instant liquidity.

user avatarRajesh Kumar

MEXC Expands Guardian Fund with Additional 1,000 BTC

MEXC has added another 1,000 BTC to its Guardian Fund, marking the second major allocation this year.

user avatarMiguel Rodriguez

HANetf and HSBC Launch First GBP EUR-Hedged Bitcoin Products

HANetf and HSBC have announced the launch of the first GBP EUR-hedged Bitcoin products, marking a significant development in the digital asset ecosystem.

user avatarLuis Flores

Goldman Sachs Integrates $100 Billion Treasury Fund with Crypto Institutional Frameworks

Goldman Sachs has announced the integration of its $100 billion Treasury Fund with crypto institutional frameworks, marking a significant development in the digital asset ecosystem.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.