Friday 30 November 2018

DJ Khaled and Floyd Mayweather fined for promoting cryptocurrencies.

DJ Khaled and Floyd Mayweather are among
celebs in trouble over cryptocurrency ads

Both men concealed the fact that they had received money for promoting cryptocurrencies through their social media accounts.

Music producer DJ Khaled and boxer Floyd Mayweather Jr have settled charges in the US after they secretly received payments for promoting cryptocurrencies.

According to the US Securities and Exchange Commission (SEC), the pair have been fined without admitting or denying the accusations.

Mayweather failed to disclose that he had received promotional payments from three companies which had made Initial Coin Offerings (ICOs) - a controversial method of raising capital by creating coins or tokens using the blockchain technology which underpins Bitcoin.



Full story at Sky News.

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