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.
Odd how the British tabloids are constantly saying that Meghan Markle is ruining the royal family, by doing awful inappropriate things such as closing her own car door, yet are so very quiet concerning Prince William’s supposed affair with his wife’s bestie. We’ll quickly introduce the Marchioness of Cholmondeley (pronounced Chumley). She is the woman […]
Dillon Cassidy and Kelly Kraft redubbed the classic Don Bluth animated feature “The Land Before Time” with “Scottish” voices. The whole movie! Enjoy it while it lasts. [via] Narrator – Trumane Alston Bryce – Spencer Hawk Cera – Michelle Davey Old Rooter – Denver Collins Mother – Chris Hanley Ducky – Liz Anderson Petri – […]
Behold The Pasta PC, a computer that has a nutrition label in addition to a spec sheet, because he used sheets of pasta as the case. It works, but between the build (consider the thermals) and the antiquity of the Atom-based computer he sacrificed to make it, it’s pretty hinky. [via MeFi] My wife said […]
From your apartment door to your bike lock, it’s not uncommon to carry a number of different keys on your keyring, but that doesn’t make it any more bearable when you’re fussing to find the right one or deal with the infamous pocket bulge. The KeySmart Pro’s smart design cuts down on key clutter and […]
Happy DNA Day! April 25 is a day to recognize deoxyribonucleic acid – better known as the molecule that holds the code to our entire genetic makeup. What better way to celebrate than with a complete ancestry test that’s about more than just satisfying idle curiosity about your family tree? The lab techs at Vitagene use […]
For musicians, clubgoers or anyone in the thick of a loud environment, earplugs aren’t just an option. If you plan on keeping your hearing through sustained exposure to levels over 85 decibels (roughly the sound of a blender), they’re a must. The good news is, most earplugs will muffle the sound. The bad news is, […]