Breitbart promotes investment in high-risk cryptocurrencies

This Tuesday, over 675,000 Breitbart mailing list subscribers received an email encouraging them to invest in risky cryptocurrencies supported by the advice that “the cryptocurrency market is RED HOT.” The values of leading cryptocurrencies, such as Bitcoin and Ethereum, have been appreciating massively. However, according to an email sent by Breitbart: "that's NOTHING compared to the lightning-fast returns seen from dozens and dozens of little-known 'penny cryptocurrencies'.” It also advises readers to invest before the cryptocurrency boom forecasted to occur on November 15. No one knows of such an event.. The only event known, as of today, is the planned Bitcoin hard fork, which is scheduled for sometime in November.

Readers are directed to a website hosted by Agora Financial, which according to MediaMatters is “notorious for sketchy sponsored emails pitched through the mailing lists of media personalities.” The email reports that the digital token, AllSafe, that has no working website while an inactive Twitter account tweeted that it “skyrocketed by 15,808% in a single day!” The email further says that other digital coins, such as AMIS “surged by 29,693%… OVERNIGHT!” and NewYorkCoin “jumped a staggering 56,606% over just a week’s time.” Currently, both of these coins are worth less than a cent.

Small cryptocurrencies, like the ones advertised in the email, are known to benefit people who currently own a stake via short-lived spikes in value when getting a wave of new investment. The cryptocurrency market is notoriously volatile and unpredictable; these digital coins are especially risky.

The email text itself was signed by the publisher of Wall Street Daily, Robert Williams. Both Agora Fiscal and Wall Street Daily have not yet responded to the queries regarding the email. Attempts have been made via email and Twitter to contact Breitbart editors and spokespeople but no response has yet been received. Currently, the reason why a prominent far-right media outlet would promote an unsafe investment remains unknown.

Jimmy Song, a well-known cryptocurrency commentator said, “if you're gullible enough to fall for this, you kind of deserve it. If [readers] think that this will get you rich, they've probably wasted their money on other stuff too.” Upon being asked his opinion about investing in these coins, the Bitcoin developer said, "Don't do it."

It is quite common for all types of publications to have a huge mailing list of subscribers to whom they send news-related emails. Conservative outlets, however, are particularly notorious for sending their subscribers bothersome advertisements instead of news.

 

[caption id="attachment_710" align="aligncenter" width="696"] Screengrab: Breitbart mailing list[/caption]

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