The SEC Files Charges against Floyd Mayweather and DJ Khaled for Promoting Cryptocurrency – Details Here!
The SEC announced today that it has settled charges against Floyd Mayweather and DJ Khaled. The U.S. Securities and Exchange Commission it appears sort to make an example out of the celebrities for “unlawfully touting” initial coin offerings. The star’s problem was not getting involved in the cryptocurrency arena but it was the fact that they did not disclose payments they received for promoting the initial coin offerings on their very large social media platforms. The SEC included specific social media posts from both Mayweather and Khaled in its press release. Khaled, it writes, called the Centra ICO a “game changer.” While Mayweather, posted to his followers that the Centra ICO, “starts in a few hours. Get yours before they sell out, I got mine.” He later added, “You can call me Floyd Crypto Mayweather from now on.”
Floyd Mayweather who was reportedly paid by three different ICO issuers, including $100,000 from a company called Centra; has agreed to pay a fine of $614,775. He’s also been prohibited from promoting any securities “digital or otherwise” for three years.
DJ Khaled who also reportedly paid $50,000 from Centra, has agreed to pay a fine of $152,725. He has also been prohibited from promoting any securities “digital or otherwise” for two years.
The SEC added that as part of the settlement, neither celebrity admitted or denied wrongdoing. Stay tuned for any updates on this story.
You may be interested
Ahmir “Questlove” Thompson & Tariq “Black Thought” Trotter Present: ‘Hip Hop: The Songs That Shook America’Editorial Dept - October 14, 2019
From Executive Producers Ahmir “Questlove” Thompson, Tariq “Black Thought” Trotter, Shawn Gee, Alex Gibney and directors Erik Parker and One9, HipHop: The Songs That Shook America, premiered last night, October…
Oprah Winfrey Interviews Award-Winning Actresses Lupita Nyong’o and Cynthia Erivo For An OWN Primetime SpecialEditorial Dept - October 14, 2019
Oprah Winfrey sits down one-on-one with the award-winning actresses Lupita Nyong'o and Cynthia Erivo, who discuss their fast rise to fame and how their…
Watch YBN Cordae’s new video “Broke As F*ck” + Stream The Lost Boy Album Here!Editorial Dept - October 14, 2019
Today, YBN Cordae shares a new video from his his critically-acclaimed debut project, The Lost Boy. The playful video for "RNP" featuring Anderson…