• U.S. Federal Judge Victor Marrero used screenshotted rocket emoji as evidence in a lawsuit against Dapper Labs and its founder Roham Gharegozlou, resulting in the judge ruling that emojis are a form of financial advice.
• Former SEC branch head Lisa Braganca warned Crypto Twitter to stop using emojis related to NFTs or crypto, like rocket emoji, money bags, and stock chart emojis.
• Crypto Twitter was flabbergasted by the news, with some calling it a “tragedy” that freedom of speech does not extend to emojis.
Emojis Are Financial Advice: Former SEC Branch Chief’s Warning
Yesterday, U.S. Federal Judge Victor Marrero declared that NBA Top Shot NFTs are securities and used screenshotted rocket emoji as evidence in a lawsuit against Dapper Labs and its founder Roham Gharegozlou, resulting in the judge ruling that emojis are a form of financial advice. In response to this ruling, former United States Securities and Exchange Commission (SEC) branch head Lisa Braganca took to Twitter to advise crypto enthusiasts to stop using the rocket emoji, money bags, and stock chart emojis when referring to NFTs or crypto.
Crypto Twitter Reacts
Naturally, Crypto Twitter flocked to discuss this news with many calling it a “tragedy” that freedom of speech does not extend to emojis. Digital artist AshChild explained how they interpreted the sequence of rocket-stock-money bag emojis differently — as a missile hitting an “otherwise sound” crypto portfolio followed by putting the money in a trash bag instead of making profit — demonstrating how freely people can interpret emojis according their own feelings and world outlooks.
The audacious conclusion by U.S. Federal Judge Victor Marrero demonstrates how much power regulators have over digital communication platforms like Crypto Twitter — where people can now be held accountable for their use of language and even their use of symbols such as emojis — potentially leading toward further restrictions on communication between traders and investors online if deemed too risky for financial markets by regulators or government institutions.
Implications for Cryptocurrency Industry
The implications for cryptocurrency industry may be far reaching as well; from now on traders have another point to consider when discussing investments on social media platforms: what sorts of symbols could they be held liable for? No matter what one might think about this decision however, traders should always remember that certain words carry more legal weight than others when discussing investments online — particularly ones involving cryptocurrencies or any other asset regulated by government institutions across jurisdictions worldwide.
Ultimately while regulators have shown increasing interest towards cryptocurrencies recently through decisions such as these ones it’s important to remain mindful during conversations around investment topics online; regardless if someone is expressing themselves through words or symbols accuracy is paramount in order to ensure safety from legal issues down the line!