“Berkshire Hathaway’s Repurchase of TSMC: April Fool’s Joke by Internet Celebrity Causes International Controversy, FSC: Maximum Fine of Two Billion”
April Fools’ Day jokes can sometimes go too far, especially when it involves the financial market and international investment giants. Recently, a Taiwanese internet celebrity “Mo Gu Stark” caused quite a stir globally with an April Fools’ Day hoax.
Stock Market Reacts
On April Fools’ Day, “Mo Gu Stark” posted a fake news article on Facebook, resembling a Bloomberg report, claiming that Warren Buffett had bought back all the stocks of Taiwan Semiconductor Manufacturing Company (TSMC). This news quickly spread through various media outlets and investors, even leading to international media coverage and causing a significant impact.
Affected by this news, TSMC’s American Depositary Receipts (ADRs) rose strongly by 4% on April 1st, driving TSMC’s stock price to climb to NT$790, contributing to an increase of approximately 160 points in the Taiwan stock market.
Financial Regulatory Commission Launches Investigation
In response to this unexpected event, Taiwan’s financial regulatory institutions swiftly launched an investigation. Huang Houming, Deputy Director-General of the Financial Supervisory Commission, stated that they have received complaints from investors and instructed the Taiwan Stock Exchange to initiate surveillance and examination mechanisms. If any illegal activities are found, severe punishments will be imposed to safeguard the interests of investors.
According to relevant laws, spreading false information to manipulate the stock market could result in a maximum of 10 years’ imprisonment and a fine of up to NT$200 million. This incident also serves as a reminder to the public to approach online information with caution, especially when it involves financial investments.
“Mo Gu Stark” Publicly Apologizes
After the incident escalated, “Mo Gu Stark” realized the seriousness of the situation and publicly apologized, explaining that it was just an April Fools’ Day joke. He emphasized that he did not engage in any trading activities during the incident and did not profit personally from the information.
The consequences of this April Fools’ Day joke not only put “Mo Gu Stark” at legal risk but also brought some chaos to the financial market. The speed and influence of internet information dissemination are enormous, and responsible sharing and handling of information are crucial for everyone.
In the cryptocurrency community, it is more common for internet celebrities, key opinion leaders (KOLs), or media outlets to spread false news. Although financial regulation rarely enforces market manipulation in the cryptocurrency market, with the development of regulations, it is important to be cautious of the risks of breaking the law.
(
The Financial Supervisory Commission Targets Cryptocurrency Investment Advisers! P1trader/TCDAO, boasting Binance Futures as the world’s number one, is listed as an illegal securities investment adviser.
)
TSMC
Warren Buffett
April Fools’ Day
Financial Supervisory Commission
