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.
The White House Counsel’s “crazy, ranty” legal nastygram to House Leader Nancy Pelosi over impeachment was, Noah Shachtman writes, crafted by Trump himself. Asawin Suebsaeng and Sam Stein, at the Daily Beast: Trump had also privately consulted on the letter with Rudy Giuliani, his notably pugnacious personal lawyer who is at the center of the […]
At The Washington Post, Antonia Noori Farzan reports on an alleged zoophile who demanded farmers let him at the horses while conducting a terrifying stalking campaign against those who refused. For well over a year, two mysteries consumed a peaceful New Jersey community. The 31-year-old was arrested Oct. 3, according to the New Jersey Herald. […]
Raytracing is a method for drawing scenes by modeling beams of light, illuminating and richocheting off objects. It’s realistic but very slow, and only the newest and most expensive video cards [Amazon] introduce it to realtime games. MySQL is the most commonplace relational database, the sewer containing all the web’s fatbergs, the last thing on […]
We have a theory about those throw blankets that are barely big enough to cover your legs. The only people who seem to make them or use them are grandmothers, and the blankets are only that small because Nana got bored halfway through the sewing job. Look, we’re sure she means well. But if you […]
Remember when the default state of your online presence was anonymity? That’s not so clear-cut anymore, and the worst part is you may not even know who is using your data or what they’re using it for. Small wonder that so many people are choosing to surf through virtual private networks. VPNs filter web access […]
Get ready for the stream of your dreams, binge-watchers. There’s a contest afoot, and at stake is a lifetime subscription to Netflix. All you have to do is sign up, and you’re entered to win this ultimate Netflix plan. When does it expire? Only when you do. And hey, just in case you need something […]