DJ Khaled and Floyd Mayweather both pitched deals to their followers, but did not disclose or admit they were paid to do so. Both are being fined as a result of the undisclosed sponsorships, which were, of course, for sleazy cryptocurrencies.
Both took money to promote Centra Tech, an ICO that eventually led to fraud charges for several of its masterminds. The SEC found that Mayweather took $100,000 to promote the Centra token, as well as $200,000 to promote two other ICOs, in posts like an Instagram message where he told his millions of followers "You can call me Floyd Crypto Mayweather from now on." DJ Khaled was paid $50,000 to promote Centra Tech -- facts neither mentioned in their social media posts. While they avoided admitting any wrongdoing, both will have to give up the money they were paid, along with an additional $300,000 penalty for Mayweather to go with a $100,000 fine for DJ Khaled (plus interest).
A phenomenon of the Twitter era is celebrities not really bothering with professional financial and business help beyond accountants. The dumb ones are easier marks than ever.
Here's the SEC press release on the Centra coin shenanigan. It peaked at a $240m market cap but quickly deflated and is now nearly worthless; the founders were arrested in April.
“And not everyone is happy.” the controversial trend is back in the spotlight—and not in a good way. Penis facials are receiving a lot of backlash following a November 21st Instagram post by actress Kate Beckinsale, who captioned her photo, “After a long flight I do like to lie down and be covered in a […]
Samsung’s latest phones have a “portrait” mode that cleverly fakes the look of a shot taken with a fancy lens on a full-frame sensor. But a picture they used as an example in an ad turns out to be a stock photo taken with a high-end DLSR. Moreover, the photographer, Dunja Djudjic, has a blog […]
In this chilling video, YouTuber oncologist Chubbyemu tells the story of a woman who colon-cleansed by drinking a liter of soy sauce—which would be about 200g of sodium on top of whatever other crap is in there, five times the lethal dose. The internet has long been a place to go for bad advice, but […]
Businesses of any size continue to use PDFs despite – and perhaps because of – their stubborn resistance to simple editing. But for those who need a little flexibility on their documentation, the search is over for alternative software. PDF Expert for Mac is the catch-all solution for wrangling those PDFs, and it’s available at […]
When it comes to tech, smaller is better, and these items fit the bill both in terms of size and price. We’ve rounded up our favorite stocking-ready gadgets, most of which are already on sale – and you can take an additional 15% off any of them with the special code MERRY15. iPM 3-in-1 Fast […]
So you’ve got a good eye for pictures? We’ve got a good eye for deals. And this holiday, there are some solid deals out there for photographers. Check out some of our favorite recent discounts on gear, software, and e-learning for photogs of any experience. Gadgets RevolCam: The Multi-Lens Photo Revolution for Smartphones This […]