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Ethereum hoax led to $4B in losses

Ethereum hoax led to $4B in losses | Public Relations & Social Marketing Insight | Scoop.it
From thenextweb.com - June 29, 2017 9:52 AM

The price of cryptocurrency Ethereum dropped dramatically following news of its creator’s death. One problem: he wasn’t dead.


A post on 4Chain claimed Vitalik Buterin — creator of blockchain technology Ethereum and currency Ether — died in a fatal car accident. Following news of what was later confirmed to be a hoax, the price of Ether went from $317 to $286 in moments, before bottoming out at around $216.


Buterin dispelled any notion he was dead with a selfie. In it, he’s holding up blockchain-based data mined from days after his “death,” to prove was around. Still, this wiped out about $4 billion in Ethereum’s market value.


Ether has since recovered — it was trading at around $300 at the time of writing. While this was likely not the sole reason for the drop, it certainly didn’t help....

Jeff Domansky's insight:

A case in crisis PR and the challenges of social media.

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Ferguson Police Tactics Equal PR Fail

Ferguson Police Tactics Equal PR Fail | Public Relations & Social Marketing Insight | Scoop.it
From jenniferjonesblog.com - August 15, 2014 8:45 PM
Like so many of you, I have been stunned by the images of a militarized police force in Ferguson, MO harassing, tear gassing, arresting and even beating citizens who are protesting the police shoot...


...Let me be clear – these police actions are absolutely wrong from a human perspective too. And, from what I have seen, they have trampled on the people’s right to assemble, freedom of the press, free speech, destruction of personal property, unlawful arrests and likely dozens of other rights I’m not even familiar with.


But, strictly from a PR perspective, they are cutting of their own noses to spite there faces....

Jeff Domansky's insight:

An epic PR and policing failure. Contrast Ferguson police actions with Missouri State Police efforts to reach out, communicate and deescalate the crisis.

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wanderingsalsero's comment, August 15, 2014 11:05 PM
I agree totally Jeff. I've posted lot of stuff about it too. But this is just the result of a trend that some people (AKA: 'kooks', conspiracy theorists, etc.) have been trying to call attention to for years. This is not the same America we were born into and I'm afraid it's going to be very, very traumatic (at best) to turn it around.
Jeff Domansky's comment, August 15, 2014 11:45 PM
WanderingsAlero thanks for comments. Truly a tragedy made worse by poor police response.
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Lessons From Three of 2016's Biggest PR Fails

Lessons From Three of 2016's Biggest PR Fails | Public Relations & Social Marketing Insight | Scoop.it
From www.fastcompany.com - January 12, 2017 1:17 AM
2016 saw its fair share of corporate public-relations mishaps, but some were more cringeworthy than others. To be sure, the PR crises in certain cases weren't all that bad compared with the serious business missteps that precipitated a few of them, but the fact remains that there is always a better and a worse way to talk to customers and the public when something's gone wrong. These were three of the year's most egregious gaffes, and what companies can learn from them heading into 2017
Jeff Domansky's insight:

Some PR mishaps are simply ill-advised tweets, while others are huge corporate scandals. Here's what Cheerios, Wells Fargo and Samsung taught us.

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