Andy Bell, founder and chief executive of leading investment platform AJ Bell, said Hollywood actors should not be giving investment advice.
Gwyneth Paltrow, Reese Witherspoon and footballers John Terry and Paul Pogba have all lately been endorsing crypto investment. Matt Damon told viewers that "fortune favours the brave" in an ad for crypto.com.
Analysis shows that those who followed the advice of the celebrities have lost half their money.
The crypto market has soared in popularity with 2.3 million Britons taking punts. Lately, the coins have crashed with $200 billion wiped off their value in a single day last week. Bitcoin, the best known, has halved in six months.
The celebs have been pilloried for failing to say anything after the crash in the value of what they were promoting.
Denne historien er fra May 26, 2022-utgaven av Evening Standard.
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Denne historien er fra May 26, 2022-utgaven av Evening Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Why are England wasting time waiting for Tuchel?
Winning the World Cup is the aim, so the new boss should start now
He's been shot, and punched by Mike Tyson, but British boxing's great survivor is back on top and aiming to rule the world
This is where the magic happens,\" reads a big neon sign scrawled across the entrance to the offices of arguably the most powerful man in British boxing today.
How Sketch went from 'obscene' to era-defining
After arocky start, the glamorous and infamous restaurant is now an institution
Money is worth less than time'
He's quit Fendi, but what will Kim Jones do next?
London's Roman Amphitheatre
Guildhall Yard, EC2V
Liberals didn't notice they'd lost relevance in the all-consuming digital sphere
There are many reasons why Donald Trump might have won the election last week.
Do we have to die?
One neuroscientist thinks the answer is no
How to have a magical Christmas in Edinburgh
From cosy cobblestone streets to abundant Yuletide goings-on, few cities rival the Scottish capital in creating Christmas whimsy.
London's best festive restaurants
The social season is upon us once more. These are the city’s most coveted Christmas venues, which need to be booked soon so as to not miss out on the tinsel and tipples.
Rag'n'Bone Man
I struggle with being recognised... I'll never really feel comfortable with it'
