McLean, VA – July 5, 2023 – The Direct Selling Self-Regulatory Council (DSSRC) of BBB National Programs has referred direct selling company iCoinPro to the Federal Trade Commission (FTC) for possible enforcement action. The referral comes after iCoinPro failed to substantively respond to a DSSRC inquiry into aggressive earnings claims made on social media by iCoinPro salesforce members and on the iCoinPro public website.
DSSRC is an independent national advertising self-regulation program that monitors advertising and marketing claims in the direct selling industry. iCoinPro is a multi-level direct selling company that markets education, information, and training for cryptocurrency services.
At issue are social media earnings claims as well as testimonial claims on the iCoinPro website indicating that iCoinPro salesforce members can earn significant income and achieve financial freedom by participating in the iCoinPro business opportunity. Claims included:
- “With the launch of our new and improved iCoinPro 2020 system you can potentially make money with bitcoin and crypto currencies literally anywhere – on the Beach, at the Pool, or at Home on your computer, any where you choose! The world is your oyster…” Video with copy stating “People are making a FORTUNE with cryptocurrency all over the world”
- “Being debt free and living comfortably without the worry of financial obligations is all we’ve wanted and to live it now is a blessing!”
- “Create time and financial freedom”
- “Are you needing more financial freedom? Have you ever heard of Better Crypto/iCoinPro? I have a great opportunity for you right now! Many have been doing very well in this space and are planning on building a big team in this.”
- “If you’re interested in the future of money or want to be able to get some extra income or replace your own and live free from a day job take a look at this educational program.”
- “I worked a 9 to 5 job for 20 plus years! Did I find it rewarding? NO…I share my journey to show others that there’s opportunity beyond 9 to 5 job, opportunity to gain extra funds if that’s what you need, opportunity to be your own BOSS!!”
- “Earn 4k a month without enrolling a single person”
- “Financial Freedom is knocking. And it’s name is THE MICRO PROFIT SYSTEM.”
- “This program has helped me make profits daily whether the market is up or down. You can also earn residual commission income.”
- This is a perfect opportunity for you to invite your friends, family and anyone else that wants to see how we are teaching people the skills they can use to make a full time income from the comfort of their own home.
DSSRC expressed its concern that such earnings claims convey the message that the typical salesforce member can generally expect to earn significant, if not life-changing, income. After the inquiry was opened, DSSRC continued to identify additional claims proliferating on social media and the iCoinPro website stating that potential salesforce members can earn significant income from participating in the iCoinPro business opportunity.
Despite multiple attempts by DSSRC to engage with iCoinPro, the Company failed to substantively respond to DSSRC’s inquiry and made no efforts to substantiate the claims or meaningfully participate in the self-regulatory process. Pursuant to DSSRC Policies and Procedures, iCoinPro has now been referred to the FTC and the Nevada Office of the Attorney General for possible enforcement action.
About BBB National Programs: BBB National Programs, a non-profit organization, is the home of U.S. independent industry self-regulation, currently operating more than a dozen globally recognized programs that have been helping enhance consumer trust in business for more than 50 years. These programs provide third-party accountability and dispute resolution services that address existing and emerging industry issues, create a fairer playing field for businesses, and a better experience for consumers. BBB National Programs continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-and-teen-directed marketing, data privacy, dispute resolution, automobile warranty, technology, and emerging areas. To learn more, visit bbbprograms.org.
About the Direct Selling Self-Regulatory Council: The Direct Selling Self-Regulatory Council (DSSRC), a division of BBB National Programs, provides independent, impartial monitoring, dispute resolution, and enforcement of false product claims and income representations made by direct selling companies and their salesforce members across digital platforms. The DSSRC seeks to establish high standards of integrity and business ethics for all direct selling companies in the marketplace.
Name: Jennie Rosenberg
Job Title: Media Relations
New York, NY – November 21, 2022 – To prevent a company from conveying to consumers the unsupported message that consumers can achieve significant wealth with minimum investment, the National Advertising Division (NAD) of BBB National Programs recommended that Cash App discontinue or modify its video commercial with Megan Thee Stallion telling consumers they can invest as little as a dollar alongside images of a coin going down and up, followed by her adding a gold bar to a stack of gold bars and saying that “with my knowledge and your hustle, you’ll have your own empire in no time.”
The claims at issue were challenged by NAD as part of its routine independent monitoring of truth and transparency in U.S. national advertising.
Cash App is a brand name of a financial services platform operated by Block, Inc. that provides a variety of financial payment and investment-related services, including allowing consumers to invest in stocks and Bitcoin.
“You’ll Have Your Own Empire in No Time”
NAD’s inquiry focused on whether the exaggerated statement “You’ll have your own empire in no time” is hyperbole that consumers would not take literally or conveys a message requiring support.
NAD noted that where an objective representation is made (i.e., termed in fact rather than opinion) regarding the performance or other tangible attributes of a product, that is sufficiently specific and material enough to create expectations in consumers, then substantiation for the claim is required.
Although the claim “You’ll have your own empire in no time” standing alone might be vague, non-actionable puffery, it is accompanied by images of bouncing coins beside accumulating gold bars. Further, NAD found that the express claim is made in the context of advertising touting that consumers can invest as little as $1 on Cash App, and thus appeals to an audience that may not be familiar with the risks associated with investing or the volatility associated with Bitcoin in particular.
NAD determined that while consumers may understand that they will not achieve the success of Megan Thee Stallion or create an empire, they could also reasonably take away the implied message that Bitcoin investing generates significant wealth with minimum investment, an objective message requiring support. According to NAD, there was no support for this message.
Further, NAD concluded that the audio (“Bitcoin is an investment” for which “the price can go “up and down by the hour”) and written (“Investing has risks: you may lose money”) disclosures in the video were not clear and conspicuous.
In its advertiser statement, Cash App stated that it “agrees to comply with NAD’s recommendations” and that it “has not hosted or distributed the video since March 31, 2022, and has no plans to do so in the future.” The advertiser further stated that it respectfully disagrees with NAD’s conclusion about the message conveyed by the video and noted that it “fully complies with all regulatory requirements regarding the sale of Bitcoin.”
About BBB National Programs: BBB National Programs is where businesses turn to enhance consumer trust and consumers are heard. The non-profit organization creates a fairer playing field for businesses and a better experience for consumers through the development and delivery of effective third-party accountability and dispute resolution programs. Embracing its role as an independent organization since the restructuring of the Council of Better Business Bureaus in June 2019, BBB National Programs today oversees more than a dozen leading national industry self-regulation programs, and continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-directed marketing, and privacy. To learn more, visit bbbprograms.org.
About the National Advertising Division: The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
Director of Communications
BBB National Programs
703.247.9330 / email@example.com
LAS VEGAS (June 1, 2022) – The stakes are high when you order the favorite house steak at Twin Creek Steakhouse at Silverton Casino Hotel.
As part of a new ongoing promotion, diners have the opportunity to roll dice to win a free entrée or other prizes when dining at the premier Off-Strip Las Vegas steakhouse. The new ‘Stakes Are High’ promotion rolls out June 8, in time for National Steakhouse Month
Upon ordering the restaurant’s signature Creekstone Farms Tomahawk, diners will be visited by the “Stakes are High” tableside cart, on which they will have an opportunity to roll three dice. Depending on the guest’s roll, the following prizes can be won:
- Roll any die with a five: Guest will receive a free dessert
- Roll three ones: 10 percent off Tomahawk entrée
- Roll three twos: 20 percent off Tomahawk entrée
- Roll three threes: 30 percent off Tomahawk entrée
- Roll three fours: 40 percent off Tomahawk entrée
- Roll three fives: 50 percent off Tomahawk entrée, and a free dessert
- Roll three sixes: 100 percent off Tomahawk entrée
Located just three miles from the Las Vegas Strip, Twin Creeks boasts a popular menu of steak and seafood, paired with an extensive list of wine and boutique bourbons.
The “Stakes are High” program is being introduced as part of Silverton Casino’s 25th anniversary celebration, commemorating a quarter century in Las Vegas. The company will celebrate its Silver Anniversary with memorable events, pop-up parties and hotel and restaurant specials throughout the summer and fall.
The restaurant’s signature menu item, the colossal 40 ounce Creekstone Farms Tomahawk, serves two, and fills the table with the included sides of lobster mashed potatoes, grilled asparagus, black-truffle butter, and two scratch-made sauces.
The Creekstone Farms beef program is unique to the industry because it combines superior Black Angus genetics, exceptional cattle management practices, carefully controlled high-quality feeding, and state of the art processing of only genetically verified Black Angus cattle.
Dinner at Twin Creeks begins with fresh bread service, featuring three house-made selections and a choice of accompaniments. The hand-made butter is cultured and churned right in the kitchen.
The dessert list is over-the-top, including a house-made tiramisu and a deconstructed lemon curd streusel, which gets raves from diners. The chef’s trio of sorbets is also made fresh daily.
Dinner at Twin Creeks Steakhouse is available 4:30 p.m. through 9:30 p.m. Wednesday through Sunday; and is closed Monday and Tuesday. A detailed menu for Twin Creeks and each of the Silverton restaurants is available at silvertoncasino.com. Reservations are recommended, online at silvertoncasino.com.
About Silverton Casino Hotel
Silverton Casino Hotel celebrates its Silver Anniversary in 2022, commemorating a quarter century in Las Vegas. The local casino favorite offers 300 deluxe rooms and suites and world-class amenities all located within an upscale, contemporary luxury lodge-themed resort. Silverton features 90,000 square feet of state-of-the-art gaming, including the most popular slot machines and table games. An 117,000-gallon saltwater aquarium, home to thousands of sharks, stingrays and tropical fish, was voted “Best Attraction” in the Best of Las Vegas awards.
The resort is a culinary destination, featuring Mi Casa grill cantina, Su Casa sushi bar, Sundance Grill, WuHu Noodle, Shady Grove Lounge, Mermaid Restaurant & Lounge, Starbucks, and Johnny Rockets. Twin Creeks is known as the premier Off-Strip steakhouse in Las Vegas. The unique “Stakes are High” program at Twin Creeks Steakhouse gives diners a chance to roll dice to win a complimentary Creekstone Farms Tomahawk, the restaurant’s signature cut.
In addition to the adjacent 165,000-square-foot flagship Bass Pro Shops Outdoor World, the Silverton Village features a 150-room Hyatt Place hotel, the 18-story luxury high-rise The Berkley, and several restaurants, including Cracker Barrel Old Country Store.
Silverton Casino Hotel is located at I-15 and Blue Diamond in Las Vegas. For more information, please call (702) 263-7777 or visit silvertoncasino.com.