The office of Securities and Exchange Commission (SEC) in the Texas city of Fort Worth has joked about the rise in prices of shares of those companies that add the word blockchain or other terms related to cryptocurrency technologies to the title.

Employees of the Texas branch of SEC wrote on Twitter that they intend to add the word blockchain to the account name in order to increase the number of subscribers.

 

We’re contemplating adding “Blockchain” to our name so we’ll increase our followers by 70,000 percent.

Over the past few months, the market has repeatedly observed how statements and even just rumors about the beginning of the company's work in the cryptocurrency sphere caused a sharp jump in prices of their shares. So, the shares of the developer of the virtual reality platform TimefireVR went up three times, after it announced a re-qualification in the investment company, which will invest in cryptocurrencies and blockchain start-ups.

Shares of the California-based fruit juices producer SkyPeople Fruit Juices jumped by 200% due to rumors that the company plans to start working with blockchain technology.

Previously, the Financial Services Industry Service of the United States (FINRA) urged investors to be more careful when buying securities of companies that claim to work with cryptocurrencies.

“Do your research before purchasing shares of any company offering investment opportunities in cryptocurrency. And don’t be fooled by unrealistic predictions of returns and claims made through press releases, spam email, telemarketing calls or posted online or in social media threads. These actions may be signs of a classic "pump and dump" fraud,” FINRA said in a statement.