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    Personal Finance YouTubers Have Bigger Problems Than Just FTX



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    This week the worlds second largest crypto exchange, FTX, collapsed due to borderline fraudulent management and investment practices. The collapse was the largest example of such a collapse, albeit just one of many instances of fraud in the crypto community.

    I think its very important that everybody with investments, even non-crypto investments understands what happened to this company and I will do my best to give you everything you need to know about this collapse, so far, because it is rapidly evolving and circumstances may have changed significantly when you watch this video.

    Investors will lose billions in this collapse, and that itself is terrible, but I think it highlights a much larger issue, which is the personal finance influencers that are directly responsible for directing hundreds of thousands of their viewers to make investments that will harm their long term financial wellbeing.

    I am not just talking about FTX either, yeah sure this is one incident, and maybe nobody could have seen it coming, but it’s just the tip of the iceberg and people are going to keep loosing their money because of bad advice they received on the internet.

    So it’s time that people like Graham Stephan, Andre Jihk, Meet Kevin and the dozens of other influencers in the personal finance space got called out for the harm they are doing their audience.

    I don’t want to start YouTube beef or anything here, I think these guys could do a lot of good for their audience if they reversed some really bad practices they have started making in recent months. Bad practices that are probably going to blow up in their face in more ways than just this FTX disaster.

    So it’s time to learn How Money Works to understand what went wrong with FTX and understand how you can personally tell when someone you think you can trust on the internet is telling you to do something that is not in your best interest.

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    #ftx #finance #cryptocurrency

    Edited By: Andrew Gonzales

    Music Courtesy of: Epidemic Sound

    Select Footage Courtesy of: Getty Images

    For sponsorship inquiries, please contact sponsors@worksmedia.group

    View 44 Comments

    44 Comments

    6. Harris Sultan on

      This guy saying YouTubers need to take responsibility for giving bad advice then next minute he promotes Brilliant for advice.

      What if Brilliant turns out to be Fraud? Social media influencers are not experts, they were also fooled by this whole crypto BS.

    9. Duu Et on

      Yeah you poor ad blacklisted Mfs give scammers a platform like y’all join pyramid schemes for a quick check. It’s laughable

    11. W C on

      Anyone who gives finance advice on the internet only cares about how much they make. That logic makes every advice they give a bias. Read that again.

    12. RHB51 on

      Hmm, nothing about political donations, lack of government oversight, mainstream media cover ups. The problem is free speech online, so obviously we need more censorship. Pay no attention to that man behind the curtain.

    15. Andrew Gary on

      <The rich stay rich by spending like the poor and investing without hesitating then the poor stay poor by spending like the rich yet not investing like the rich

    16. Resevoir Dog on

      Ohh !! oh!!!!!! I know the answer to this one!! yes you are responsible!!!! Lmao especially that phony disingenuous Graham Stephen. He's sounds like he's lying about everything when he talks

    18. Warren Mulvey on

      Meet Kevin posted a video when I started investing called will NNDM 6x? And proceeded to explain that there share dilutions where good for the business as they continued to dilute my shares by 25000%, needless to say I stop watching them. They’ve been doing it for years..

    23. extremeuzer3 on

      I think it’s also so telling that the only people who shilled out to FTX were finance YouTubers with no finance background. Specifically talking about graham and andrei, I could be wrong about some of the other snake oil salesmen

    24. YUL Bopps on

      We are currently in the jaws of the worst 😞bear markets I have seen, the average stock has been cut in half, and the only way to make money this year has been to either short or to trade long in very short time frames. I'm still at a crossroads deciding if to liquidate my dipping $117k stock portfolio, what’s the best way to take advantage of this bear market?

    28. Caroyln Esser on

      Therefore, it is more reliable to earn on Crypton cryptocurrency, because it has excellent price dynamics, and it is profitable to mine it in the Utopia p2p ecosystem.

    29. Vicki Wellington on

      I will forever be indebted to you, you've changed my whole life i'll will continue to preach about your name for the whole world to hear you've saved me from a huge financial debt with just little investment thanks so much Mrs Mabel Downey

    33. Colin Byrne on

      It's too bad, because these "finance gurus" will never take you up on your proposition to avoid sponsorships from investment firms because they are not in the content creation business for the good of their audience, or the love of sharing knowledge. They just want to get rich, and the easiest way to get rich is to exploit other people.

    39. Chris Lookman on

      The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits

    40. vejoshiraptor on

      I call bullshit. Graham Stephen uses more flashy thumbnails and click-baity titles than Ben Felix (can’t blame him because that’s what works), but he really doesn’t make actual investment recommendations as this video claims, AND his advice is generally very much in line with the same things Ben Felix would say. It’s really disingenuous of this video to use just the vague titles of Graham Stephen’s videos as evidence he was actually telling people what to invest in. People may have heard of FTX through Stephen but he certainly never recommended putting your money there or even suggest it would be a good idea. His advice is always basically: reduce spending, get an emergency fund, do passive investing into index funds, etc. and if you have money left over that you want to gamble with, do whatever you want.

    43. Dana So on

      The fact that they say "steph curry also invested how am I to know" is such BS. If you make your money by giving financial advice,you are accountable and I think all types of influencers should have to be checked not just financial ones.

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