DJ Khaled, Floyd Mayweather Jr. charged with promoting cryptocurrency without disclosing they were paid

The Securities and Exchange Commission has charged music producer DJ Khaled and boxer Floyd Mayweather Jr. with promoting investments in cryptocurrency coin offerings without stating that they’d been paid to do so.

This is the first time the SEC has brought charges against individuals for promoting ICOs

Mayweather had failed to disclose that he’d received $100,000 from Centra Tech. Khaled also failed to disclose his payment of $50,000 from the same company.

Centra has also been charged by the SEC,  who is alleging that its ICO was fraudulent.

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