Polish central bank paid YouTube stars to make a video about a cryptocurrency crash

Poland’s central bank paid a YouTube star to make a video about a cryptocurrency crash in order to warn about the dangers of investing in digital coins. 

The National Bank of Poland (NBP) told CNBC it spent 91,221.99 Polish zloty ($26,764) on Gamellon, a YouTube partner network that features a number of well-known bloggers, as well as Google and Facebook’s Irish subsidiary.

Marcin Dubiel, who has nearly 1 million subscribers to his YouTube channel, posted a video titled “Stracilem Wszystkie Pieniadze?!” which translates as “I lost all my money.” It follows a character who buys a fake digital currency which crashes.

It has racked up over half a million views. In the video description, there is the hashtag “#uwazajnakryptowaluty.” In December, the NBP launched a campaign called “Uwazaj Na Kryptowaluty” which translates as “beware of cryptocurrencies.” The aim of the site is to warn the public against risks associated with investing in virtual currencies.

The site details a number of risks from fraud, to theft, to high volatility.

While a number of regulators across the world have highlighted the dangers in the space, this appears to be the first instance of a central bank backing a YouTube video to do so…

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