Earlier this month, TikTok, a prominent social media platform, outlawed 'influencer' sponsorships of cryptocurrency. Some in the crypto community applauded the move: "Cryptocurrency is a very volatile asset class. Big reward for a big risk. "However, for naïve young people on social media wanting to become the next crypto millionaire overnight, these behaviours can have a huge negative influence on their life and wallets," said Justin Kline, co-founder of Coinalysis.