Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee and settle in because this week the crypto spotlight is on influencers, wallet transparency, and what it means for your investments. Recent findings highlight the tension between influencer monetization and ethical responsibility.
Crypto News of the Day: Only Five of 160 Crypto Influencers Properly Disclosed Promotions
A recent revelation by blockchain investigator ZachXBT has exposed a transparency issue among crypto influencers.
A price sheet detailing 200+ influencers’ wallet addresses and promotional deals showed that out of 160+ accounts that accepted campaigns, fewer than five disclosed their posts as advertisements.
“Price sheet of 200+ crypto influencers and their wallet addresses from a project they were recently contacted by to promote. From 160+ accounts who accepted the deal, I only saw <5 accounts actually disclose the promotional posts as an advertisement,” ZachXBT shared in a post.
This highlights a serious compliance gap in influencer marketing within the crypto space. Meanwhile, the exposé comes amid broader trends that suggest influencer credibility in crypto is under pressure.
Four months ago, BeInCrypto reported that many high-profile crypto Key Opinion Leaders (KOLs) have vanished from X (Twitter).
The report ascribed this trend to brutal altcoin market downturns, financial losses, and cultural friction with new profit-focused investors.
Allegations of account sales and misuse in pump-and-dump schemes have further eroded trust, leaving even seasoned OGs feeling alienated.
Meanwhile, Arkham Intelligence recently introduced the KOL Label, which tracks the wallets of influencers with over 100,000 followers. This compounded the issue of misleading promotions.
The tool allows investors to verify whether influencers genuinely hold the tokens they promote or merely advertise for profit.
According to recent research by CoinWire, 76% of influencer-backed tokens fail, often losing over 90% of their value within three months. This fuels skepticism about token endorsements.
ZachXBT’s findings align with these concerns, revealing how influencer-led campaigns can mislead audiences.
“Seems they do small giveaway posts to farm engagement from people in developing countries,” the blockchain sleuth added.
Lack of proper disclosures and the prevalence of paid promotions could create reputational and financial risks for followers.
“Biggest scammer on top! Now everyone can watch your wallets. But they should know y’all have multiple ones,” one user remarked after Arkham rolled out the feature.
The comment reflects skepticism over influencer accountability. Still, the combination of market pressures, on-chain transparency tools, and poor disclosure practices paints a complex picture.
While Arkham’s KOL Label introduces accountability, it exposes influencers to reputational risks, especially those heavily promoting altcoins and meme coins without genuinely backing them.
Therefore, investors should conduct independent due diligence, assess token fundamentals, and social engagement. They should also investigate community support rather than relying solely on influencer endorsements.
Notwithstanding, influencers’ role remains pivotal but demands increased scrutiny. Influencers and investors face a critical crossroads with promotional transparency directly impacting investment outcomes.
Chart of the Day
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
- Max Keiser says flee to El Salvador as Robert Kiyosaki declares Europe toast.
- Ethereum exchange holdings hit a 9-year low as $5,000 breakout looms.
- Japan’s largest deposit holder to issue something similar to a stablecoin.
- Sonic Labs debuts in the US market with ETF, PIPE, and a deflationary model.
- $163 million in crypto was hacked in August, up 15% from July.
- CZ backs DeFi dominance as Japan Post Bank unveils $1.3 trillion digital currency plan.
- New mystery coin on Pump.fun reportedly hits $1.8 million in 24h volume.
- Crypto inflows hit $2.48 billion last week as Ethereum continues to outpace Bitcoin.
Crypto Equities Pre-Market Overview
| Company | At the Close of August 2 |
| Strategy (MSTR) | $334.41 |
| Coinbase (COIN) | $304.54 |
| Galaxy Digital Holdings (GLXY) | $23.49 |
| MARA Holdings (MARA) | $15.98 |
| Riot Platforms (RIOT) | $13.76 |
| Core Scientific (CORZ) | $14.35 |
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