Lil Yachty, Jake Paul Among Celebrities Charged By SEC for Promoting Crypto
  • last year
Lil Yachty, Jake Paul, Ne-Yo, and Lindsay Lohan are among eight celebrities who were charged by the Securities and Exchange Commission for violating securities laws by promoting cryptocurrencies. The celebrities were charged with illegally promoting cryptocurrencies without “disclosing that they were compensated for doing so and the amount of their compensation,” according to the SEC. The list also includes rapper Soulja Boy, singers Austin Mahone and Akon, and adult film star Kendra Lust. All but Mahone and Soulja Boy (aka DeAndre Cortez Way) have reached settlements with the SEC. The files were charged against the celebrities in the broader investigation of crypto entrepreneur Justin Sun, whose companies marketed crypto asset securities under the brand names Tronix (TRX) and BitTorrent (BTT).
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