Some of the projects Mr. Armstrong pushed were small, experimental crypto businesses that eventually ran into problems. In these cases, he said, he also considered himself a victim.
“They’re preying on novice crypto influencers who’ve just caught on and trying to figure out what they should and shouldn’t do,” he said. “It’s hard to go from 12,000 followers to 1 million in a year and make all the right decisions.”
Expand your cryptocurrency vocabulary
Mr. Paul rose to fame as a vlogger and occasional actor; YouTube once rebuke He posted footage of a body he found in a Japanese forest. Over the years, he has transformed his internet fame into a series of eclectic entrepreneurial pursuits, including a line of energy drinks.
Last year, as the NFT market began to flourish, Mr. Paul became interested in cryptocurrencies. In a recent interview, he admitted that he is still learning how to navigate the crypto market, even as he tries to profit from the technology. “I’m an extreme thinker, not an implementer,” he said.
Mr. Paul was involved in some initial brainstorming on the Dink Doink project. But the venture was eventually spearheaded by one of his roommates, Jake Broido, who gave Mr. Paul 2.5% of the initial token offering.
in a tweet In June last year, Mr. Paul called it one of the “stupid, most ridiculous” cryptocurrencies he had encountered, and circulated a video of a cartoon character singing pornographic lyrics. “That’s why I gave it my all,” he added. He also appeared in a wobbly video on Telegram in which he praised Dink Doink as possibly his favorite crypto investment.
The campaign is lost, Mr. Paul ridiculed by YouTube critics. Dink Doink Price hovering well below a cent, before falling further in value throughout the summer. Mr Paul said he never sold his tokens or profited from the project. But he said he regretted promoting the token without disclosing his financial stake. “I’m definitely not as responsible as I should be,” he said.