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Floyd Mayweather, DJ Khaled Charged For Illegally Touting Crypto Offerings (theverge.com)
The Securities and Exchange Commission is charging DJ Khaled and professional boxer Floyd Mayweather Jr for failing to disclose that they were paid promotional fees to tout fraudulent initial coin offerings. The Verge reports: According to the SEC, this is the first time that individuals have faced charges involving ICOs. The Commission is accusing Mayweather of failing to disclose a $100,000 promotional payment and DJ Khaled with a $50,000 one. Both celebrities received these promotional fees from Centra Tech, Inc. earlier this year. Neither Mayweather nor Khaled have admitted to or denied the Commission's findings, but both have agreed to pay back what they had received to promote the ICO and are facing hundreds of thousands of dollars in additional penalties each. "These cases highlight the importance of full disclosure to investors," said SEC Enforcement Division co-director Stephanie Avakian. "With no disclosure about the payments, Mayweather and Khaled's ICO promotions may have appeared to be unbiased, rather than paid endorsements."
Boxers?
Have they lost their sanity?
I agree with disclosure, but if anyone bought cryptocoin because of advice they got from Floyd Mayweather, they are going to be parted with their money sooner or later. I don't know what is wrong with America that allows this kind of advertising strategy to work, but it might very well be the central problem in America at the moment.
"First they came for the slanderers and i said nothing."
Make $XXm, get fined $XXk. Seems like a good deal to me.
When an entire army of U.S. hating invaders is amassed on our borders as we speak.
If you took all the black crime and all the white crime and all the Islamic Terror and combined them you would not reach the levels of criminality that these southern invaders are bringing to our homes everyday.
If Mayweather and Khaled were smart they would just change their names to Pedro and Alvarez and renounce their citizenship. The USAian government only persecutes her own. If you are illegal you can and will get away with murder. The only thing more immune from prosecution might be being a lawmaker.
Yes, boxers are too dumb to collect their crypto - he will have to make his own now
He and the boxers are waiting for sentencing - no telling how long it will take
Instead, I chose to go with my Nigerian Prince Crypto-Currancy blockchain based on the email notification of the inheritance of 20 Million Naira. /s
But they are few and far in between and even those are decidedly high-risk. The basic problem is that in a business-context, the blockchain does not solve a new problem, but a solved one. It does it with a bit different characteristics, but so far it seems not really that much better. Take, for example, a bank-to-bank money transfer. This is today either done via an intermediate exchange or based on a direct agreement between the two banks. The exchange charges something (not a lot, a transfer of unlimited amount is something like less than 0.01 cent in Europe if you have volume), and some banks want to get rid of the exchange, but really the most of the work the exchange does is to offer a technical interface to the clients so they do not have to arrange for one with each other bank they do business with. That is not enough to justify going to a blockchain solution. But what about being able to prove the transfer later? Banks already need to have revision-proof storage for that. Hence both source and target bank can already prove the transfer happened and cannot claim it did not. The blockchain adds absolutely nothing here.
As it turns out, that pretty much eliminates the "currency" use, except for the case were you want anonymity. But most blockchain-tech does not actually give you that in actual reality. Monero, as a specialty niche solution, does and that is why it may have an actual valid use-case, but only if it eventually gets its volatility under control. As the cryptocurrency-craze very much banks on people that try to get rich, that means speculation and volatility, again making that "currency" actually useless as a currency. What is left? Supply-chain management? Revision-proof storage still has an edge there. Anything else? Not really.
So this is it basically, except for a few special scenarios, but only ones were volatility and speculation is a severe problem. Hence in general, there is nothing but speculation in here and that invites fraud. The typical ICO is basically a pyramid-scheme and these are illegal for a reason. The disclosure requirements are there for the same reason. And violating them is at the very least preparation for fraud.
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
DJ Khaled getting busted for cryptocurrency is one of those stories that we'll look back on someday and laugh. I mean, it's probably not a laughing matter for DJ Khaled, but it's pretty funny and really a slice of life in 2018.
But Ludacris' verse on that DJ Khaled song is fire. It's one for the ages.
https://youtu.be/GGXzlRoNtHU
You are welcome on my lawn.
You seem to have slept though the classes where they explained "separation of powers". Trump cannot send anybody to prison and for good reasons. Or are you advocating for making the US a fascist nation were separation of powers gets abolished?
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
The "Q" is a state prison.
Anyways we'll excuse mayweather since he got knocked upside the head a few times...occupational hazard, probably can't recognize night from day anymore.
Khaled is just a silly motherfucker who doesn't know any better. His gay ass should still be wearing diapers.
No prison for either as both of em are too big (and black) to fail.
Idiota!
The Q is a state prison. A very dangerous and violent population which is no place for mixing Fed criminals. Tell me you didn't know that and I will apologize for name-calling you.
People should be responsible for their own decisions. If some retard reads a tweet and makes financial decisions who cares. Not any reason to limit the rest of us.
Also, all our laws are "paid" by lobbyists and that's legal.
The USA is a shithole country.
Your mom... Is going to get dragged out and executed.
And i wish that was a joke, but it's not
Someone tried to sell bitcoin and got it wrong and now FM has to pay for it? Typical BS they should quit busting his stones
Mayweather is the most ethical person this side of Alpha Centauri. Geez leave him alone for cryin out loud
Fascinating. It is rare to run into a truly evil person these days. You qualify. I hope you at least have fun being evil, because if there is any sort of performance review after this life, you are soooo screwed....
Most ACs are not even worth the keystrokes to insult them. Be generically insulted by this and ignored otherwise.
"We the best crypto!"
The SEC considers this ICOs fraudulent, so why demand they pay the fees back to the fraudsters?
Surely it would be better to either seize the cash or pay it to charity so they don't personally benefit?
Can't wait for Trump to put all those libtards in federal prison San Quentin
As a conservative, let me just say what an asshole you are.
Just another day in Paradise
As a liberal, thank you for saying that for me.
Be kind, for everyone you meet is fighting a difficult battle. - Plato
You're welcome. Extremists like this jackass need to be called out. And we all should stop demonizing people on the other side just because we have differences of opinions. The vast majority of us have family members on opposing sides. Do we really hate them?
Just another day in Paradise
Then, move to one, and shut the fuck up.
When Americans are advocating for people to be deemed traitors and hanged for pointing out that the Constitutional separation of powers is the law of the land, and suggesting POTUS should have unlimited powers ... those are the traitors.
You're a traitor to the very founding ideas of America, and you're advocating that Trump should even further erode the Constitution.
Amazing how you Nazis and fascists think you're on the side of the good here. The reality is, you aren't.
Now go back to your pathetic little incel fascist life and do the world a favour and kill yourself and your family.
I see the paint-huffers at slashdot "editor" staff are at it again.
This has nothing to do with Bitcoin. Its a shitty ICO listed using Ethereum. I have to wonder what the thought process is, or if there is one.
"Hey bob, we need to push this turd of a story out, which icon should I use?"
"Uhhhhhhh use the Bitcoin logo one"
"But its about an ICO, and those are--"
"Shut up and use the Bitcoin logo, we've got other stuff to do -- we're not trying to be topical or accurate!"
"okay....."
Will people ever learn? No, probably not.
Antifa and those extremist libtards is who I'm totally against, also hate the extreme tea partiers.
I'm libertarian so I'm for individualism. So while I agree with everyone who posted in this thread as I believe individuals have right to say whatever the fuck they want. Just as I did. If someone thinks I'm an asshole, I support their opinion 100 percent. If someone hates me or wants me dead I support their opinion 100 percent.
Individualism will always be better than any form of socialism