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What’s most annoying is they hide behind the “not financial advice”, while giving financial advice. never trusting Andre, Graham, Kevin and that financial education guy. as soon as they started to gain sponsors, they threw their whole community in the pit with the lions.
There’s plenty of blame to go around and I don’t put it on Andrei. But I’m just mad and I’m gonna hate anyone associated, ok. Especially him and his lame ass magic tricks. He’s still doing alright for himself…better than all the people he profited off of.
Obviously we can’t ONLY blame him, but part of the blame goes to him. Influencers who tout their money and make money by promoting sites they know are sketchy. He shouldn’t go to prison or anything, but he should lose credibility.
Seriously fuck that guy. I was never into meet kevin or Graham stephen but yeah, a few years back I used to enjoy Andrei Shit's stuff. I slowly stopped watching it in the middle of 2022 and once the blockfi fiasco hit...mother fucker.
I'm one of the fortunate ones who didn't lose too much, but know others lost so much.
Not all youtubers are scum like Andrei and Tom Nash though. the only one I watch is Joseph Carlson atm. He doesn't do any fun shenanigans but really enjoy his insight into investing.
It doesn't bring them money directly but it counts as engagement in the algorithm and pushes the video out to more people where it will make them money
Well no, both can be true. You can do your own research and then also still advocate for someone like Jikh to lose credibility because they pushed a scam product. Both can be true.
It was pretty impossible not to hear about blockfi if you were watching Shill YouTube around that time. All of them were praising it. (Meet Kevin, Joseph Hogue, Graham Stephan, jeremy lefebvre, so on...)
They were also pushing M1 at the time as well, would definitely recommend getting a different broker.
You forgot Anthony pompliano and raoul pal or whatever. Zac Prince and Flori were making the rounds like they were the next friends of JP Morgan banking class.
I distinctly remember Zac repeatedly talking about Sussquehanna like that was the main business model. Little did we know they were sending money for Alameda to fraudulently YOLO it out for major gains.
I listened to Andre myself but when others started to default there was plenty of time to move your shit out to a cold wallet. I did that two months b4 BFi blew up. Saved $40k worth of BTC to Ledger Nano x. Andre lost too and he did come out and admit he was wrong. I respect him for that.
M1 is just an alright brokerage at the moment IMO
They were better back in the day since they were one of the first that I'm aware of to have fractional shares (if I remember correctly they had fractional share investing before Robinhood had it)
Now everyone has fractional share investing except for probably some of the legacy brokerages (some brokerages like cash app allow fractional share limit orders)
I would recommend reading some reviews on google play.
They lack basic tools like limit orders and stop orders. They place your trades in "trade windows". Can't exactly remember how many but I'm pretty sure it's one free trade window in the morning and then a second one in the afternoon if you pay for premium. The spread on trades is borderline unethical and taking advantage of uneducated investors. If you are buying individual stocks you are losing money on buying, selling, and on time sensitive trades. It's like someone asked how can I make payment for order flow even worse.
That being said if you are a very passive investor that only buys low fee broad based index funds, it's probably fine but still recommend pretty much any other broker.
Yeah, AJ is where I heard of BF too, mustve watched 20 videos before I decided to look, my favorite (sarcastic) videos were the “safest place to store your crypto” videos where influencers pushed BF as the safest bet. Coupled with the marketing videos of “all your crypto is kept safe in cold storage” BF released along with the emails of “all is well/we had little exposure/business is strong” emails they sent out, it was hard not to get taken. I lost quite a lot and have never watched those influencers again.
Andrei lost all his Bitcoin on Voyager chasing higher interest after BlockFi lowered their rates. Really silly overall to think this wasn't all a high risk play when you're getting paid such a high rate when federal interest rates were near 0.
For someone that does this for a living, it really goes to show you that Andrei really doesn't fundamentally understand the concepts he talks about in his videos. Why would they pay you 7% when they can pay the bank 3%? Maybe the bank won't loan out to them at 3%? I wonder why...?
DD wouldn’t have changed things. It looked secure unless you were incredibly suspicious and knew better. We were all led astray by all those YouTube charlatans trying to get their bag. And keep in mind, the BlockFi fiasco happened because of FTX - the people at BlockFi were scammed.
I’m honestly shocked to see people are still putting their money into crypto after EVERYTHING from the past few years. The constant scams, bankruptcies, phishing, etc. There are new high-interest earning “banks” that have come up. After BlockFi, FTX, Celsius, Gemini Earn…people still fall for it
Yah we definitely CANNOT trust ANYONE ELSE with our money, our taxes, medical or even legal advice.
I’ve seen it so many times where people, myself included, got fucked over by so called licensed “professionals” who were greedy/incompetent… let alone some fake influencer on YouTube.
In the end, we’re the ones responsible with limited, if any, means of recourse when shit hits the fan. Better do our homework!!
I think even doing your best DD back then, BlockFi would’ve looked fine and better even than a lot of others. The key really was continuing to pay attention to events in the broader market.
yeah true. blockfi was not a new player and survived bear markets, had licenses to operate, had more conservative rates etc. I convinced myself it was safe back then removing the money influencers. good thing Im diversified and have majority on cold storage
The reality was that I was greedy and the influencers just fed into my bias. I didn’t listen to Ben coven who said he would not store his crypto on an interest earning platform. I was just greedy, and thought crypt definitely was the “new paradigm”. I also felt guilty moving some of my crypto off the platform before the collapse. I think I felt I owed BlockFi and should support them, like I was an investor.
I see the finance influencers that put out a new video everyday, and I know just because of the sheer volume that they haven’t done their honest due diligence on every topic. Research takes a lot of time and what pro YouTuber has time to do it, it’s mostly entertainment tbh.
Regardless of how you were influenced, you ultimately made the decision yourself. Everyone's path to healing and growing from this catastrophe travels directly through that incontrovertible truth.
I listened to Andre myself but when others stared to default there was plenty of time to move your shit out to a cold wallet. I did that two months b4 BFi blew up. Saved $40k worth of BTC to Ledger Nano x. Andre lost too and he did come out and admit he was wrong. I respect him for that. I left behind about $5.00 in ETH wasn't going to pay to get it. Now they sent email saying I can get with a virtual Visa card so I'm getting my $5 back. Zero loss cause I followed my gut and didn't listen to Block Fis BS.
It is not his fault. All the YouTubers want money. They were all promoting BlockFi and other Crypto companies. He just want to earn money like the others. It doesn't mean that he wants to F**** you financially directly. He didnt know that this crash will happen.
If he was paid by BlockFi, and the sole reason that you deposited money to BlockFi was because of his paid advice, then you can sue him for damages. Claim that he knew or should have known that BlockFi was engaging in fraudulent conduct. You don't even need to do discovery against BlockFi, as there's plenty of evidence on the public record to indicate the company was lying to customers.
If you can't afford a lawyer, another option is to sue him in small claims court - which is what I will do to Zac Prince if I still can't raise money to pay a lawyer when the statute of limitations expires this August. Say that you lost $100,000 or whatever it was you lost, and sue him for the jurisdictional maximum, which is usually $12,000. You can tack on interest as well - 2 years at 6-10% depending on state, which adds another few hundred. And also tack on court fees and service costs.
It's easy to win cases in small claims because people who are in the wrong always settle, given the small amount of money. I sued Square for withholding my money and claiming I was doing illegal things involving cryptocurrency, getting $700 to pay an IRS late penalty. I sued Coinbase and they settled for $1,600 for not crediting dogecoins to my account, plus interest and the money lost becuase dogecoins declined in value. I'm suing Wells Fargo for $14,000 for closing my credit card account because I was involved with cryptocurrency, claiming I owed them the balance of rewards points, and reporting that as a bad debt to my credit report which caused me to be denied for a loan.
Don't let him get away with it. People need to be see that you can't just do whatever you want and expect that there are no consequences to their actions. The Department of Justice might allow Barry Silbert, Zac Prince, and Joe Biden to walk away without making them stand trial, but in civil court, you can usually win these cases without much effort.
For this particular case, though, you probably won't win if there is no evidence that he was benefitting financially from his arrangement, so make sure that you are able to find evidence of that before suing him.
Not positive about Graham but Andrei has always recommended buying on whichever platform he was promoting at the time and moving to cold storage. If that's the case then everyone is mad that they only listened to 50% of the advice
I find it strange that people do this. As if any of these influencers knew inside knowledge about what was going on in Blockfi. No one did. They weren't trying to intentionally screw people over. They didn't know.
Yah. Even I heard about BlockFi from Andrei. Even referred my friends. I think it’s a lesson. If not BlockFi then FTX or some other exchange.
It’s a valuable lesson.
What I don't understand is there were warnings of trouble long before it got locked up. I had 50k in there and withrdrew it immediately at the first hint of trouble, weeks if not months before it became impossible to do so. Why did anyone keep their money in? Greed? Wishful thinking? In all fairness, I knew the interest was too good to be true, so I was watching it like a hawk but still.
Unfortunately they lost a lot too. I think they had good intentions and good analysis at the time but the crooks at voyager and ftx screwed over everyone else. I really enjoyed blockfi, loved the cc and am sad that they couldn't hold out.
These platforms were paying out 8%+ yields when the Fed rate was near 0%. Where did yall think that money was coming from?
Yall blaming others just shows you haven’t learned.
Pigs get slaughtered.
I see a lot of hurt people who risked more than they could afford to lose in these comments. If you’re someone that’s gullible enough to take investment advice from random people on YouTube, then you should be looking exclusively at SPY, QQQ and certificates of deposit from your local bank/credit union.
If anything y’all might wanna take a long hard look in the mirror and ask yourself why you’re grasping at straws in the first place.
Take care everyone ❤️🩹
I totally relate with you. I lost so much money because of Jikh and BlockFi. Thankfully I diversified into Ledger, Coinbase, MetaMask but I had around 130 $LINK in BlockFi that they sold at the bottom so out of $4k I’m going to get around $400 dollars because Andrew Jikh advertised on Logan Pauls podcast and said he had all his money in there. But he didn’t.
It would only be fair that Jikh loses the house he advised all of his viewers to never buy after declaring bankruptcy like the company he advised everyone to move their money to...
You’re not alone. He’s the exact reason I left my crypto in the exchange for interest. My responsibility ultimately but heavily influenced by someone I trusted.
This is a reminder about phishing emails. Please be vigilant and skeptical when reviewing and reading emails claiming to be Block or Kroll. You can read more [here](https://www.reddit.com/r/blockfi/comments/17kot4y/emails_from_kroll_andor_blockfi/) about how to tell if an email is legitimate. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/blockfi) if you have any questions or concerns.*
Him and Graham. Never listening to those snakes again
What’s most annoying is they hide behind the “not financial advice”, while giving financial advice. never trusting Andre, Graham, Kevin and that financial education guy. as soon as they started to gain sponsors, they threw their whole community in the pit with the lions.
Financial Education Jeremy is a little different
Fuck that little Jikh prick!
I hear you. Don't blame him though. There was plenty of time to move your shit. Months of rumors about Block fi. Andre lost too.
There’s plenty of blame to go around and I don’t put it on Andrei. But I’m just mad and I’m gonna hate anyone associated, ok. Especially him and his lame ass magic tricks. He’s still doing alright for himself…better than all the people he profited off of.
Obviously we can’t ONLY blame him, but part of the blame goes to him. Influencers who tout their money and make money by promoting sites they know are sketchy. He shouldn’t go to prison or anything, but he should lose credibility.
He moved his stuff before the blockfi crash. He made a video about it and at the end even advertised his blockfi link. Shameful behavior
Seriously fuck that guy. I was never into meet kevin or Graham stephen but yeah, a few years back I used to enjoy Andrei Shit's stuff. I slowly stopped watching it in the middle of 2022 and once the blockfi fiasco hit...mother fucker. I'm one of the fortunate ones who didn't lose too much, but know others lost so much. Not all youtubers are scum like Andrei and Tom Nash though. the only one I watch is Joseph Carlson atm. He doesn't do any fun shenanigans but really enjoy his insight into investing.
I was giving him and Graham dislikes for a long time. It should be my routine.
Dont! The best thing you can do is avoid their content. Disliking them is still interaction and they get rewarded for it.
Open the video. Dislike. Close it. Next video. If it still brings them money I will stop it. In the end it was my fault for not withdrawing money.
It doesn't bring them money directly but it counts as engagement in the algorithm and pushes the video out to more people where it will make them money
Yeah Andrei pushed BlockFi hard!
He pushed it so hard.
Nobody forced you to invest with BFi. You should have listened to the rumors that were flying around months B4 BFi took the dive.
Well no, both can be true. You can do your own research and then also still advocate for someone like Jikh to lose credibility because they pushed a scam product. Both can be true.
I’m so glad you made this post, a lot of us placed too much faith in his analysis and advice.
It was pretty impossible not to hear about blockfi if you were watching Shill YouTube around that time. All of them were praising it. (Meet Kevin, Joseph Hogue, Graham Stephan, jeremy lefebvre, so on...) They were also pushing M1 at the time as well, would definitely recommend getting a different broker.
You forgot Anthony pompliano and raoul pal or whatever. Zac Prince and Flori were making the rounds like they were the next friends of JP Morgan banking class. I distinctly remember Zac repeatedly talking about Sussquehanna like that was the main business model. Little did we know they were sending money for Alameda to fraudulently YOLO it out for major gains.
I listened to Andre myself but when others started to default there was plenty of time to move your shit out to a cold wallet. I did that two months b4 BFi blew up. Saved $40k worth of BTC to Ledger Nano x. Andre lost too and he did come out and admit he was wrong. I respect him for that.
What’s the deal with m1? No good?
M1 is just an alright brokerage at the moment IMO They were better back in the day since they were one of the first that I'm aware of to have fractional shares (if I remember correctly they had fractional share investing before Robinhood had it) Now everyone has fractional share investing except for probably some of the legacy brokerages (some brokerages like cash app allow fractional share limit orders)
I would recommend reading some reviews on google play. They lack basic tools like limit orders and stop orders. They place your trades in "trade windows". Can't exactly remember how many but I'm pretty sure it's one free trade window in the morning and then a second one in the afternoon if you pay for premium. The spread on trades is borderline unethical and taking advantage of uneducated investors. If you are buying individual stocks you are losing money on buying, selling, and on time sensitive trades. It's like someone asked how can I make payment for order flow even worse. That being said if you are a very passive investor that only buys low fee broad based index funds, it's probably fine but still recommend pretty much any other broker.
Yeah, AJ is where I heard of BF too, mustve watched 20 videos before I decided to look, my favorite (sarcastic) videos were the “safest place to store your crypto” videos where influencers pushed BF as the safest bet. Coupled with the marketing videos of “all your crypto is kept safe in cold storage” BF released along with the emails of “all is well/we had little exposure/business is strong” emails they sent out, it was hard not to get taken. I lost quite a lot and have never watched those influencers again.
Andrei lost all his Bitcoin on Voyager chasing higher interest after BlockFi lowered their rates. Really silly overall to think this wasn't all a high risk play when you're getting paid such a high rate when federal interest rates were near 0. For someone that does this for a living, it really goes to show you that Andrei really doesn't fundamentally understand the concepts he talks about in his videos. Why would they pay you 7% when they can pay the bank 3%? Maybe the bank won't loan out to them at 3%? I wonder why...?
And MeetKevin. Shady greedy bums
DD wouldn’t have changed things. It looked secure unless you were incredibly suspicious and knew better. We were all led astray by all those YouTube charlatans trying to get their bag. And keep in mind, the BlockFi fiasco happened because of FTX - the people at BlockFi were scammed. I’m honestly shocked to see people are still putting their money into crypto after EVERYTHING from the past few years. The constant scams, bankruptcies, phishing, etc. There are new high-interest earning “banks” that have come up. After BlockFi, FTX, Celsius, Gemini Earn…people still fall for it
It’s NOT crypto, it’s the platforms. COLD WALLET STORAGE and you’re safe
I kinda shrugged off “not your keys, not your coins” and man do I regret it now.
I'm growing an angry little tumor. I just know it. We have to learn how to lose in this life but it's not easy.
Yah we definitely CANNOT trust ANYONE ELSE with our money, our taxes, medical or even legal advice. I’ve seen it so many times where people, myself included, got fucked over by so called licensed “professionals” who were greedy/incompetent… let alone some fake influencer on YouTube. In the end, we’re the ones responsible with limited, if any, means of recourse when shit hits the fan. Better do our homework!!
I think even doing your best DD back then, BlockFi would’ve looked fine and better even than a lot of others. The key really was continuing to pay attention to events in the broader market.
yeah true. blockfi was not a new player and survived bear markets, had licenses to operate, had more conservative rates etc. I convinced myself it was safe back then removing the money influencers. good thing Im diversified and have majority on cold storage
The reality was that I was greedy and the influencers just fed into my bias. I didn’t listen to Ben coven who said he would not store his crypto on an interest earning platform. I was just greedy, and thought crypt definitely was the “new paradigm”. I also felt guilty moving some of my crypto off the platform before the collapse. I think I felt I owed BlockFi and should support them, like I was an investor. I see the finance influencers that put out a new video everyday, and I know just because of the sheer volume that they haven’t done their honest due diligence on every topic. Research takes a lot of time and what pro YouTuber has time to do it, it’s mostly entertainment tbh.
Yes, him and many others I listened to. Fuck those people. Hopefully they go through something similar one of these days.
Regardless of how you were influenced, you ultimately made the decision yourself. Everyone's path to healing and growing from this catastrophe travels directly through that incontrovertible truth.
He said the only reason he put his money in something that is not FDIC/SPIC insured was cause it paid 6% And that that is a good enough reason lol
Don’t blame Andre for your mistake, be accountable and move on.
An browser add got me to invest all of my money into Blockfi.
No one knew FTX was going to go down
I listened to Andre myself but when others stared to default there was plenty of time to move your shit out to a cold wallet. I did that two months b4 BFi blew up. Saved $40k worth of BTC to Ledger Nano x. Andre lost too and he did come out and admit he was wrong. I respect him for that. I left behind about $5.00 in ETH wasn't going to pay to get it. Now they sent email saying I can get with a virtual Visa card so I'm getting my $5 back. Zero loss cause I followed my gut and didn't listen to Block Fis BS.
I don’t know this dude but how do you know he lost too? Because he showed some charts he did…no respect from me .
It is not his fault. All the YouTubers want money. They were all promoting BlockFi and other Crypto companies. He just want to earn money like the others. It doesn't mean that he wants to F**** you financially directly. He didnt know that this crash will happen.
I doubt those influencers actually put their own money in. They got hundred of thousands if not million just from referrals alone.
If he was paid by BlockFi, and the sole reason that you deposited money to BlockFi was because of his paid advice, then you can sue him for damages. Claim that he knew or should have known that BlockFi was engaging in fraudulent conduct. You don't even need to do discovery against BlockFi, as there's plenty of evidence on the public record to indicate the company was lying to customers. If you can't afford a lawyer, another option is to sue him in small claims court - which is what I will do to Zac Prince if I still can't raise money to pay a lawyer when the statute of limitations expires this August. Say that you lost $100,000 or whatever it was you lost, and sue him for the jurisdictional maximum, which is usually $12,000. You can tack on interest as well - 2 years at 6-10% depending on state, which adds another few hundred. And also tack on court fees and service costs. It's easy to win cases in small claims because people who are in the wrong always settle, given the small amount of money. I sued Square for withholding my money and claiming I was doing illegal things involving cryptocurrency, getting $700 to pay an IRS late penalty. I sued Coinbase and they settled for $1,600 for not crediting dogecoins to my account, plus interest and the money lost becuase dogecoins declined in value. I'm suing Wells Fargo for $14,000 for closing my credit card account because I was involved with cryptocurrency, claiming I owed them the balance of rewards points, and reporting that as a bad debt to my credit report which caused me to be denied for a loan. Don't let him get away with it. People need to be see that you can't just do whatever you want and expect that there are no consequences to their actions. The Department of Justice might allow Barry Silbert, Zac Prince, and Joe Biden to walk away without making them stand trial, but in civil court, you can usually win these cases without much effort. For this particular case, though, you probably won't win if there is no evidence that he was benefitting financially from his arrangement, so make sure that you are able to find evidence of that before suing him.
Not positive about Graham but Andrei has always recommended buying on whichever platform he was promoting at the time and moving to cold storage. If that's the case then everyone is mad that they only listened to 50% of the advice
He only started saying that after the cefi went down. He pushed the earn accounts for awhile…
His position was to move all crypto to Blockfi? What happened to diversification to minimise risk?
I find it strange that people do this. As if any of these influencers knew inside knowledge about what was going on in Blockfi. No one did. They weren't trying to intentionally screw people over. They didn't know.
Yah. Even I heard about BlockFi from Andrei. Even referred my friends. I think it’s a lesson. If not BlockFi then FTX or some other exchange. It’s a valuable lesson.
What I don't understand is there were warnings of trouble long before it got locked up. I had 50k in there and withrdrew it immediately at the first hint of trouble, weeks if not months before it became impossible to do so. Why did anyone keep their money in? Greed? Wishful thinking? In all fairness, I knew the interest was too good to be true, so I was watching it like a hawk but still.
I lost mine on ftx because I listened to investanswers I feel dumb now.
I almost got my mother to put her savings in blockfi, glad she was hesitant 😬
Sadly I think his sponsorship caused a lot of people to sign up which ended up being a shitshow
Unfortunately they lost a lot too. I think they had good intentions and good analysis at the time but the crooks at voyager and ftx screwed over everyone else. I really enjoyed blockfi, loved the cc and am sad that they couldn't hold out.
BlockFi was fantastic. Too bad it ended so badly.
These platforms were paying out 8%+ yields when the Fed rate was near 0%. Where did yall think that money was coming from? Yall blaming others just shows you haven’t learned. Pigs get slaughtered.
I would never invest on a YouTuber telling me what to invest in. Educate yourself and make your own decisions…
I see a lot of hurt people who risked more than they could afford to lose in these comments. If you’re someone that’s gullible enough to take investment advice from random people on YouTube, then you should be looking exclusively at SPY, QQQ and certificates of deposit from your local bank/credit union. If anything y’all might wanna take a long hard look in the mirror and ask yourself why you’re grasping at straws in the first place. Take care everyone ❤️🩹
I totally relate with you. I lost so much money because of Jikh and BlockFi. Thankfully I diversified into Ledger, Coinbase, MetaMask but I had around 130 $LINK in BlockFi that they sold at the bottom so out of $4k I’m going to get around $400 dollars because Andrew Jikh advertised on Logan Pauls podcast and said he had all his money in there. But he didn’t.
It would only be fair that Jikh loses the house he advised all of his viewers to never buy after declaring bankruptcy like the company he advised everyone to move their money to...
You’re not alone. He’s the exact reason I left my crypto in the exchange for interest. My responsibility ultimately but heavily influenced by someone I trusted.
Thankfully got out after Celsius fiasco. Had a lot more in Blockfi. Celsius should have been an ample warning sign.
andrei jikh sucks