Comedian Stephen Colbert spoof ‘Colbert Coin’ in response to rise in crypto scams

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Stephen Colbert, the charismatic host of CBS’s The Late Show, once again associates many cryptocurrencies with scams, but in parodying the vernacular of a seasoned HODLer.

In a Wednesday segment about Gen Z falling for scams inside and outside the crypto space, Colbert referred to the carpet pulling behind a token inspired by the Squid Game show. of Netflix, in which thousands of investors lost more than $ 3 million. Together with the “certified young person” and editor-in-chief Eliana Kwartler, Colbert launched an “incredible investment opportunity” designed to obtain credit card numbers, pet names and street names. they have grown.

“If Gen Z wants to stay safe online, they should invest in this amazing new cryptocurrency token – it’s called Colbert Coin,” Kwartler said. “With Colbert Coin, you give us your savings, then us the crypto-currencies. After that, you won’t have to worry about it anymore, my stans.

Colbert Coin, from The Late Show with Stephen Colbert

Colbert added:

“We’re busy turning your money into future money – to the moon, the monkeys!” “

The host of The Late Show and The Colbert Report was one of the few late-night talk show figures discussing crypto as early as 2013, when the price of Bitcoin (BTC) was fluctuating between $ 50 and $ 300. At the time, Colbert described the crypto asset as something that has value “just because a bunch of people on the internet agreed it’s worth something.”

Related: Bitcoin Payments Are The ‘Second Dumbest Idea I’ve Heard’ Says Late Show’s Stephen Colbert

Comedian Jon Stewart – under whom Colbert worked as a correspondent on The Daily Show – joked about a similar token project using his name in December:

And if you like the “website”, you’ll love my next project. Crypto “Stewcoin”!

– Jon Stewart (@jonstewart) December 16, 2021

In the cases of Colbert and Stewart, their bogus plans spoof a very real problem in the crypto space: celebrities using tokens that may or may not turn out to be fraudulent. Kim Kardashian promoted EthereumMax (EMAX) in an Instagram story in June 2021, a token that gained 116,000% in one week before falling more than 99% and leaving many investors in the red.

According to a report released by Chainalysis on Thursday, crooks received $ 7.8 billion in stolen crypto from victims in 2021, of which more than $ 2.8 billion came from carpet draws. While the report noted that 90% of the total value lost to the carpet draws in 2021 was the result of the halting of trading and withdrawals from the big Turkish cryptocurrency exchange Thodex, all the rest involved plans. Challenge. Chainalysis attributed the prevalence of carpet draws to the “hype around space” in addition to the lack of code audits for some DeFi projects.

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