I've seen people argue about how social media has been used to spread fake news about Cryptocurrency and someone even said it's killing Crypto cause lots of people have been scammed of their Cryptocurrency through links they come across on the media well my thought to that statement is that the media didn't force them to click on those links and they fell victim to scammers on the media due to ignorance or greed. Well even though the first statement might be right cause paid actors use the media to deceive people into wrong choices of crypto investments, however everything got it's disadvantage and benefits too.
Until now, social media is still widely used by scammers to spread phishing sites on social media, and those who are deceived are careless people who are not careful in clicking on the link...
Well, humans are prone to react negatively to certain things especially when they're the victims and some have even blamed the media for their carelessness, however it may be, the media has it's benefits to Cryptocurrency and has caused a recent mass adoption of Cryptocurrencies be it Bitcoin or Altcoins. For instance, Cryptocurrency is the new trend when it comes to finance and one the fastest ways to know about new trends is the social media.
Yeah social media is still a very good distributor of crypto news, we know any news about crypto not from television but from social media especially articles and social X is getting more and more mass adoption and now the growth is accelerating because many people are interested in crypto.
Another instance is the airdrop fever, the airdrop have been ongoing for years now but social media through telegram and Ton blockchain has caused a mass participation of airdrops lately compared to previous times and to crown it all, telegram which is one of the biggest social media platform have even got their own exchange and wallet where it's users can easily purchase Bitcoin and other cryptocurrencies.
I can say that the hype in Telegram recently after the success of Notcoin and they have TON of coins as an ecosystem, now airdrop is growing rapidly in Telegram, imagine Telegram has 900 million users let's say 50% join the airdrop then this is definitely like a fast mass growth.