Investors have lost at least a billion dollars on crypto scams, and a new ad campaign from the SEC wants to help them avoid such pitfalls.

Why it matters: The ads encourage skepticism towards faddish investments, but also urge individuals to “do your own research” — a phrase associated with conspiracy theories and mistrust of official messaging…

What they’re saying: “My heart is with the SEC on this,” Tom Nichols, author of “The Death of Expertise,” tells Axios. “I just wish they hadn’t used a bad phrase. ‘Do your own research’ is exactly how people end up buying meme stocks.”

Background: In the crypto world, “do your own research” — often abbreviated to DYOR — is a meme in itself, a way for people to disclaim responsibility for the actions of anybody who follows their advice.