SEC fines Floyd Mayweather and DJ Khaled $750K for cryptocurrency shilling

The US Securities and Exchange Commission (SEC) has settled charges against boxing icon Floyd Mayweather and music producer DJ Khaled for failing to disclose payments they received for promoting now-defunct cryptocurrency firm CentraTech to millions of followers on social media. While DJ Khaled received a payment of $50,000 to shill the failed initial coin offering (ICO), Mayweather pocketed $100,000, according to the SEC. Neither of them made those deals public. Still that didn’t stop them from pushing the cryptocurrency to followers. DJ Khaled praised CentraTech as a “game changer,” while Mayweather invited followers to participate in its ICO. For this…

This story continues at The Next Web

from LatestTechyTalks