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.
Zombie deer disease is a clicktastic term for chronic wasting disease, a spongiform ecephalopathy suffered by ungulates. Much like Mad Cow Disease, Scrapie in sheep, and Creutzfeldt-Jakob’s disease in humans, misfolded proteins slowly destroy the brain, causing listlessness, discoordination, dementia and finally death. Now, what if you were to eat Zombie Deer? On March 13, […]
You’d be surprised how often we cover NASCAR: “Well, that ruined everything.”
Just the other day I remarked that the fashion industry picked the worst possible year to try and make racist imagery cool, even as it’s obvious why such an insular and privileged culture would think it clever and edgy. Hot on the heels of Katy Perry’s blaceface shoes we have Vogue exec Donata Meirelles “on […]
Looking to de-clutter your kitchen counter? Start with those multiple, tangled charging cables for your multiple, power-hungry devices. There’s a workhorse solution for all those power needs, and it’s just as just as well suited to travel as home use: The Scout Wireless 5000mAh Charger. Compact and sleek at nine ounces, it doesn’t look like […]
Use a single password for every website, and you’re compromising your security. Use a different one each time, and you’re bound to lose track of them. The solution? RoboForm Everywhere, a catch-all tool that will not only manage the passwords on every site you visit but generate better ones. As a simple password database, it’s […]
Just a reminder: Print isn’t dead. And now that printers are becoming as portable as cell phones, it might be around for quite some time. Enter the MEMOBIRD Mobile Thermal Printer, a mini-printer that is versatile, portable – and most importantly, never needs a refill on ink or toner. Measuring just a few inches around, […]