Warning of the "extreme risks" of cryptocurrencies, New York State Attorney General Letitia James published a statement Monday saying investing in digital assets is "not prudent."
James' tweet comes after her office released an "alert to investors" of the risks involved in cryptocurrency markets. The memo includes risks such as "underlying value is highly subjective and unpredictable," "increased risk of market manipulation," and potential difficulties in cashing out of investments.
The warning to investors comes amid strong interest from retail investors who are contributing significantly to bitcoin's ongoing rally and are matched with increasing demand from institutional and corporate buyers, per CoinDesk previous reporting.
A spokesperson did not immediately return a request for comment.
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