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Floyd Mayweather and DJ Khaled charged for illegally touting crypto offerings

DJ Khaled and pro boxer Floyd Mayweather Jr. are facing charges from the Securities and Exchange Commission today after they failed to disclose that they were being paid promotional fees to tout fraudulent initial coin offerings.

According to the SEC, this is the first time that individuals have faced charges involving ICOs. The Commission is accusing Mayweather of failing to disclose a $100,000 promotional payment and DJ Khaled with a $50,000 one. Both celebrities received these promotional fees from Centra Tech, Inc. earlier this year. Neither Mayweather nor Khaled have admitted to or denied the Commission’s findings, but both have agreed to pay back what they had received to promote the ICO and are facing hundreds of thousands of...

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