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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."
https://www.washingtonpost.com/politics/2018/11/29/key-takeaways-michael-cohens-new-plea-deal
1. There are conspicuous mentions of Trump and his family.
2. Putin’s spokesman appears to have helped cover this up.
3. This ties the Trump family’s efforts to the Russian government
4) The deal apparently died the day The Post broke a story about Russian hacking
https://www.huffingtonpost.com/entry/deutsche-bank-offices-raided_us_5c00331de4b027f1097bc8aa
https://www.nydailynews.com/news/politics/ny-pol-manafort-confidential-mueller-trump-giuliani-20181129-story.html
Right now, prisoners across America are taking deposits on dibs for Trump Jr's candy ass. Ivanka and Jared too.
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.
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.
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.
Apart from every single Human with at least one working brain cell.
What this story is really about is the j-ish monopoly in total immunity exploitation of world finance, and how when any outsider dares to try to 'muscle in' on j-ish territory, j-ish governmental puppets will punish them severely.
Take the USA- the js worked to give all members of Congress COMPLETE IMMUNITY over their insider trading. Thus powerful js can give US politicians trading 'tips' making almost all US politicians multi-millionaires after 5 years in office, in return for those bent politians becoming 'friends of Iz-real'.
No member of Congress has to pay taxes, since they can legally define their residency in any part of the USA- ie., those j controlled regions with no income taxes. And then they can use their untaxed income or free loans from a 'friendly' j to make a killing using insider trading tips - ALL LEGALLY. And you braindead yanks are happy with this.
"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?
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.