Warning from SEC Commissioner Hester Peirce
In a recent alert posted on the social media platform X, Hester Peirce, a commissioner with the U.S. Securities and Exchange Commission (SEC), has issued a warning regarding a fraudulent profile on Telegram that is impersonating her. Peirce explicitly stated,
“The individual pretending to be me is engaging in scams targeting unsuspecting people.”
She expressed disbelief that anyone would be naive enough to believe that she would reach out to them directly for the purposes of promoting an obscure cryptocurrency or offering a dubious giveaway.
Concerns from Binance CEO Changpeng Zhao
The alarm over this scam comes alongside a similar advisory from Binance’s CEO, Changpeng Zhao, who has declared that he does not have a presence on Telegram. Zhao lamented that persistent spamming from unknown users has prevented him from using the platform effectively. Telegram’s unwieldy privacy settings allow users to send direct messages to anyone who knows their username, prompting many public figures to be cautious about sharing their handles widely.
Hester Peirce’s Advocacy for Cryptocurrencies
Affectionately referred to as the “crypto mom”, Peirce has been a long-time advocate for cryptocurrencies within the SEC, standing out in a regulatory landscape often criticized for its harsh treatment of digital asset innovation. Although the SEC has restructured its strategies and softened its stance against some crypto operations since the departure of former chairman Gary Gensler, Peirce has maintained that the agency will remain vigilant against fraudulent actors in the crypto space.
Call for Caution in Speculative Investments
At a Bitcoin conference held in Las Vegas in May, she reiterated the absence of government bailouts for individuals heavy into speculative investments like meme coins, urging caution in a clearly risky market.
