"Clearly the SEC is making an example out of Kim Kardashian, who is the biggest influencer perhaps in the world," said Douglas Boneparth, a certified financial planner and the president of Bone Fide Wealth in New York. "We encourage investors to consider an investment's potential risks and opportunities in light of their own financial goals." Gensler also published a video warning investors not to make investment decisions based entirely on the advice of a celebrity or influencer. "Regardless of where we are hearing this advice, we need to remember what works for one person may not be the right advice for you," said Ted Rossman, a senior industry analyst at Bankrate. This used to be a rich person's game, but now everyone can buy stocks or crypto — but that can also lead toward a dangerous situation if you don't have knowledge.

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