Neither Khaled Nor Mayweather Told Investors that They Were Paid Promoters
Mayweather allegedly did not disclose Payments that he received from three separate ICO issuers, including $100,000 from Centra Tech Inc. and $200,000 to promote two other ICOs. In posts that have since been edited and/or deleted, Mayweather told his fans that he was going to make “a lot of money” and that they could “call [him] Floyd Crypto Mayweather from now on.”
DJ Khaled did not disclose a $50,000 payout that he also received from Centra in exchange for promoting the company. In a series of posts that have also been deleted or edited, DJ Khaled told his followers that Centra was “a game changer.”
Neither of the men disclosed that they were paid influencers when they made their posts.
I just received my titanium centra debit card. The Centra Card & Centra Wallet app is the… https://t.co/iIbQwQCwD1
The statement said that although neither of the men admitted or denied the findings, they both agreed to pay fines in hundreds of thousands of dollars: “Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest.”
The fines are practically chump change for both defendants; Forbes recently valued Mayweather at $285 million; DJ Khaled is estimated to be worth $20 million. Both men also agreed that they would not promote any securities for several years; Mayweather will continue to cooperate with the ongoing investigation.
SEC Warns that Investors Should Not Trust Social Media for Advice
Enforcement Division Co-Director Steven Peikin said that investors should avoid taking financial advice that has been posted on social media platforms. "Social media influencers are often paid promoters, not investment professionals, and the securities they’re touting, regardless of whether they are issued using traditional certificates or on the Blockchain, could be frauds,” he explained.
The SEC has been cranking up its efforts to crack down on illegitimate ICOs since the end of 2017. Yesterday, a US federal judge denied a preliminary injunction filed by the US SEC that would have frozen the assets of Blockvest, a crypto startup. The Commission alleged that the company had violated securities laws.
A number of cryptocurrency companies turned to social media influencers in order to tout their products after platforms like Facebook, Google, and Twitter restricted the ability to place advertisements for ICOs and other cryptocurrency-related products and services.
Neither Khaled Nor Mayweather Told Investors that They Were Paid Promoters
Mayweather allegedly did not disclose Payments that he received from three separate ICO issuers, including $100,000 from Centra Tech Inc. and $200,000 to promote two other ICOs. In posts that have since been edited and/or deleted, Mayweather told his fans that he was going to make “a lot of money” and that they could “call [him] Floyd Crypto Mayweather from now on.”
DJ Khaled did not disclose a $50,000 payout that he also received from Centra in exchange for promoting the company. In a series of posts that have also been deleted or edited, DJ Khaled told his followers that Centra was “a game changer.”
Neither of the men disclosed that they were paid influencers when they made their posts.
I just received my titanium centra debit card. The Centra Card & Centra Wallet app is the… https://t.co/iIbQwQCwD1
The statement said that although neither of the men admitted or denied the findings, they both agreed to pay fines in hundreds of thousands of dollars: “Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled agreed to pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest.”
The fines are practically chump change for both defendants; Forbes recently valued Mayweather at $285 million; DJ Khaled is estimated to be worth $20 million. Both men also agreed that they would not promote any securities for several years; Mayweather will continue to cooperate with the ongoing investigation.
SEC Warns that Investors Should Not Trust Social Media for Advice
Enforcement Division Co-Director Steven Peikin said that investors should avoid taking financial advice that has been posted on social media platforms. "Social media influencers are often paid promoters, not investment professionals, and the securities they’re touting, regardless of whether they are issued using traditional certificates or on the Blockchain, could be frauds,” he explained.
The SEC has been cranking up its efforts to crack down on illegitimate ICOs since the end of 2017. Yesterday, a US federal judge denied a preliminary injunction filed by the US SEC that would have frozen the assets of Blockvest, a crypto startup. The Commission alleged that the company had violated securities laws.
A number of cryptocurrency companies turned to social media influencers in order to tout their products after platforms like Facebook, Google, and Twitter restricted the ability to place advertisements for ICOs and other cryptocurrency-related products and services.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!