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.
Air Canada flight 759’s captain and co-pilot had been awake all day and were coming into San Francisco in the early hours of the morning, at the lowest point of their circadian cycle. A runway was closed for resurfacing, but they forgot or missed the note, and as a result almost landed on a taxiway […]
The Daily Beast reports that a water polo team from a California high school sang Nazi songs during an awards ceremony.
Truck Torrence is an indie artist, creator of the kawaii Dumpster Fire, a classic internet meme image offered as limited-edition pins and toys. Daily Wire is a website founded by right-wing provocateur Ben Shapiro, at whose Amazon store may be found a crude copy of Torrence’s design. Here’s Torrence’s original animation: And here’s a close-up […]
There’s no shortage of stories about the benefits of cannabidiol, that benign (and non-psychoactive) cousin of THC. Some have been using it for years to deal with pain, stress, and sleeplessness. And the more people use it, the more discussion there is about how to use it. While there’s no shortage of quality edibles on […]
Are we done with capsule coffee makers yet? Sure, they’re easy. But they are not so easy on the environment, and it’s debatable whether they actually make a better cup. Luckily, there’s never been a better time to switch back to the good old reliable drip method – especially when drip coffeemakers have quietly been […]
If there’s one thing that stayed consistent through the last decade or so of tech industry turmoil, it’s the love affair between techies and Linux. There’s just a ton you can do with the OS, and its open-source format means you can customize your rig from the ground up. Apparently not content with that level […]