If Jake Paul is only fined $400,000 for a crypto scam that nets him millions, where is the deterrence from doing it again!?

Jake Paul has created and shilled multiple projects like Dink Doink and Cryptozoo which eventually led to the SEC fining home almost half a million dollars. This is good in theory, the SEC is protecting investors by giving a fine to fraudsters. But if you take even one second to go over the numbers he still wins.

Jake Paul netted millions from cryptozoo alone and his coworkers made just as much. His other scam projects such as DINK DOINK was another rug pull he cashed in on. If he is profiting 6x or more than his fine it’s really no punishment whatsoever, hardly a slap on the wrist.

The only real punishment was that it hurts his reputation. But the real issue I have with this is that tells other potential scammers that they have the green light. They can go ahead and commit mass fraud because at the end of the day you just have to pay a little tax on your profits. And retail investors lose again.

The SEC can’t seem to make one right move in the crypto world but I can’t even blame them fully because of all the influencers and celebrities are the ones doing it in the first place. There needs to be massive change if not way larger fines then at least jail time and reparations.