The U.S. Securities and Exchange Commission (SEC) has settled charges with professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled–better known as DJ Khaled–for not disclosing that they were paid to promote initial coin offerings (ICOs). Neither celebrity admitted to or denied the charges in their settlements. Mayweather will pay $300,000 in disgorgement, $300,000 in penalties and $14,775 in prejudgment interest. Khaled will pay $50,000 in disgorgement, $100,000 in penalties and $2,725 in prejudgment interest.
It’s nice to see the SEC finally cracking down on undisclosed sponsorships. My question is simply, “wen Suppoman?”