Shilling Bitcoin? Feds Are Cracking DownJanuary 7, 2019 – Media Mention
In August 2017, Floyd "Money" Mayweather Jr. referred to himself as "Floyd Crypto Mayweather" and said in an Instagram post that he was going to make a "$hit t$n of money" from an Initial Coin Offering. The Securities and Exchange Commission noticed, and the boxer narrowly avoided a financial knockout by settling with the agency for promoting such ICOs without disclosing he was paid to endorse them. Music producer DJ Khaled cut a similar deal after touting a cryptocurrency debit card that he described as a "game changer" after being paid $50,000.
Andrew Apfelberg, who represents talent and consumer products companies including nail polish giant OPI and the Bob Marley estate, notes, "It's not a red light, but it's a deep orange. Proceed with extreme caution. If you had a sophisticated enough team, you could probably find a way to get there."