How statements in both traditional and new media outlets may catch the SEC’s attention.

From music moguls and sports icons promoting cryptocurrencies and digital tokens,1 to reality television stars bringing down the price of an old-fashioned stock with a single tweet,2 the worlds of media and securities are more connected than ever before. The US Securities and Exchange Commission (SEC) has taken notice, recently warning the public about media celebrities promoting cryptocurrency and token sales that may be, in essence, securities offerings. Media personalities featured in both old and new media should be on guard: the federal securities laws apply to public statements regarding securities, and the SEC will not hesitate to bring enforcement actions if the agency believes that the media has been used to deceive investors.