A FORMAL ANALYSIS OF CRYPTO INFLUENCERS

Summary from the TLDR Crypto newsletter

This paper analyzes investment information provided by crypto influencers on Twitter. It explores a massive dataset of 180 creators, 36,000 tweets, and 1,600 assets from 2020-2022. Though the tweets are initially correlated with positive returns, this is followed by negative price action, making the tweets negligible in the long term.