FINANCIAL TIMES|An update on Harry Redknapp’s favourite cryptocurrency, Electroneum

FINANCIAL TIMES|An update on Harry Redknapp’s favourite cryptocurrency, Electroneum

You may not have realised, but the past seven days have been very special for Electroneum, the cryptocurrency favoured by football manager Harry Redknapp

By Kadhim Shubber / Published by FT.COM

They have been so very special that founder Richard Ells dubbed the period “Most Exciting Electroneum Week!” in an email to “contributors”:

It’s been less than a week since I last emailed, but WHAT a week!We’ve gone from 60,000 contributors a week ago to a whopping 130,000+ and we are getting an additional 1000 per hour as I type!Electroneum has really struck a chord with the public and the excitement is overwhelming!

According to the message, Electroneum’s burgeoning popularity was helped by Redknapp’s tweet last week, and the news reports that followed it. Our take did not make the cut, believe it or not.

Now, Ells takes a moment to stress: “we did not pay him to do that, but we VERY much appreciate him doing it (thanks Harry!)!” Yes, nice one Harry!

But his general message is clear. This is a wildly speculative venture led by a guy who has little experience with cryptocurrencies, but it’s also a team, and what’s a little risk between teammates, right?

None of this could have happened without all of YOU! You are AMAZING. We are at the cutting edge of technology and you’re involved in the most exciting thing I’ve ever seen in my life! Please limber up, have a stretch and give yourselves a giant pat on the back for giving the Electroneum team the opportunity to really make a go of creating the first cryptocurrency “of the people”.

The email ends with a “PS”, which includes the warning that “buying into a cryptocurrency is not a guarantee of returns”.

Seven days ago, Electroneum’s website listed 37,201 registered users along with a raise of approximately 12,880 ethereum and 957 bitcoin. Today, the website counts 205,554 users and a raise of approximately 28,570 ethereum and 2,932 bitcoin.

If that’s accurate, then Ells and his team have hoovered up £12m worth of cryptocurrencies in a week and almost £20m in total.

The fundraising has been driven by an aggressive marketing program that makes little effort to remind people they might lose their shirt.

People get bonuses for referring their friends:

Story image

The Electroneum Twitter account is happily pumping the sale without ever having once mentioned the word “risk”, as in “your capital is at risk”:

Story image

And the Facebook page is no better. Here’s a sampling of posts:

Story image
Story image
Story image

Ells even seems to be doing billboard advertising. This is a picture from the Electroneum Facebook page:

Story image

“Missed Bitcoin? Don’t miss Electroneum”

“Huge Bonuses for early involvement!”

“Token Sale Now Live!”

Who knows, all of this might get so exciting that even the FCA starts to pay attention…

 

Mainstream media
About Electroneum/AnyTask

Electroneum is a mobile-phone-based crypto app powered by a revolutionary instant payment system that enables its nearly 4.1 million registered users to send, receive, and transfer funds within minutes at a fraction of a U.S. cent. It is one of the only crypto apps that allows users to top up their airtime and data in 140+ countries and electricity top-ups in four African nations. Our users have completed millions of blockchain transactions, including over 300,000 app-to-app transfers and more than 200,000 airtime and data top-ups, making ETN one of the most widely used cryptos. Electroneum is the only crypto that has made earning its token possible. AnyTask is Electroneum's freelance platform, with hundreds of thousands of registered users and tens of thousands of tasks across dozens of categories. Electroneum and AnyTask do not require  users to have a bank or PayPal account, empowering millions of people to instantly access the global digital economy.

Electroneum/AnyTask
30-32 Albion Place
Lyndean House
Maidstone, Kent
ME14 5DZ