For Celebs, “The ICO’s Makings is a Dangerous Duo”

Must Read

Crypto.com Partnered With Travala.com To Drive Mass Crypto Adoption

The partnership between Crypto.com and Tavala.com is aimed at driving the mass adoption of cryptocurrency. Travala’s website will...

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket. ...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made...
5d85c99dd353c-bpfull
Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Some Hollywood big names have proceeded to make progress in their crypto-related endeavors, while others have been entangled in the following chaos of fizzled and fraudulent projects.

In the same way as other distinctive businesses, Hollywood’s contribution with cryptocurrencies and Initial Coin Offerings (ICO) has turned into a reality and various big names have hoped to gain by the flood in premium and potential cash to be made.

Two major names in media outlets succumbed to the aftermath related with a deceitful ICO of cryptocurrency related administrations startup Centra Tech.

In 2018, the three prime supporters of the project were prosecuted and charged with securities and wire extortion by the United States Securities and Exchange Commission (SEC). Centra Tech had raised $32 million amid its ICO.

Centra Card was promoted as a platinum card apparently upheld by Visa and Mastercard, which enabled clients to change over crypto into fiat monetary standards. Examinations uncovered no real association existed.

American music producer DJ Khaled had also endorsed the undertaking via web-based networking media, touting the Centra platinum card on Instagram. By the by, the post has since been erased from his web based life profiles.

A week ago, the two big names needed to bite the bullet for their contribution with Centra Tech. The SEC formally charged both Mayweather and Khaled for unlawfully promoting the false ICO.

Before any of this became exposed, the organizers of the task figured out how to get the sponsorship of none other than boxing superstar Floyd ‘Cash’ Mayweather. The boxer had posted a photo on Twitter with a Centra charge card close by in September a year ago.

Mayweather wasn’t the main prominent big name to be corrupted by relationship to the deceitful task.

Khaled is set to pay $50,000 in disgorgement, $100,000 as a penalty, and $2,725 in prejudgement interest.

Seagal’s involvement with the ICO didn’t go unnoticed by the SEC, which issued a statement directed at celebrities that warned of possible legal ramifications should they not be abiding by securities regulations:

“Celebrities and others are using social media networks to encourage the public to purchase stocks and other investments. These endorsements may be unlawful if they do not disclose the nature, source, and amount of any compensation paid, directly or indirectly, by the company in exchange for the endorsement.”

Hot News

Crypto.com Partnered With Travala.com To Drive Mass Crypto Adoption

The partnership between Crypto.com and Tavala.com is aimed at driving the mass adoption of cryptocurrency. Travala’s website will now accept CRO, the coin...

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket. It is having a gain...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made a statement on the Chinese...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s Find Out

The new decision to make Dubai's own know your customer (KYC) blockchain will be able to support the bank's asset quality and improve...

NEO (NEO) Price Analysis: NEO On Downtrend With Strong Support Level Of $10.00 

NEO is on the downtrend after making a fail attempt to cross $17 a few days back.  Currently, it is facing an overall...

FTX Amongst The Top 5 Unprofitable Traders In The List Of Bitfinex Leaderboard

The performance of FTX token was nastiest amongst all other tokens in the coin market. Losing hold in the coin market, FTX becomes...

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk Future Price

Lisk is being on the positive side beside the majority of the coins facing downtrend in the cryptomarket. It is having a gain...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The BCH Price With Bixin CMO

Xiong Yue is a CMO of Bixin which offers a wide range of Bitcoin-related services. Xiong Yue made a statement on the Chinese...

UAE Banks Benefit From Dubai’s KYC Blockchain Platform? Let’s Find Out

The new decision to make Dubai's own know your customer (KYC) blockchain will be able to support the bank's asset quality and improve...

NEO (NEO) Price Analysis: NEO On Downtrend With Strong Support Level Of $10.00 

NEO is on the downtrend after making a fail attempt to cross $17 a few days back.  Currently, it is facing an overall...

RELATED NEWS

Crypto.com Partnered With Travala.com To Drive Mass Crypto Adoption

The partnership between Crypto.com and Tavala.com is aimed at driving the mass adoption...

LISK (LSK) Price Analysis: Bulls Standing Strong With Lisk...

Lisk is being on the positive side beside the majority of the coins...

BCH.TOP CEO Bet $9 Million Worth Bitcoin On The...

Xiong Yue is a CMO of Bixin which offers a wide range of...