---
title: "The SEC Charged DJ Khaled and Floyd Mayweather With Crypto Fraud"
description: "The SEC filed charges against DJ Khaled and Floyd \"Crypto\" Mayweather for failing to disclose that they were paid to promote multiple ICOs."
date: "2018-11-30"
modified: "2018-11-30"
authors:
  - name: "Dan Robitzski"
    link: "https://futurism.com/authors/danrobitzski"
url: "https://futurism.com/sec-dj-khaled-floyd-crypto-mayweather-cryptocurrency-fraud"
categories:
  - "Blockchain"
  - "Cryptocurrency"
  - "Future Society"
tags:
  - "cryptocurrency"
  - "dj khaled"
  - "floyd mayweather"
  - "ico"
  - "sec"
---

# The SEC Charged DJ Khaled and Floyd Mayweather With Crypto Fraud

![The SEC filed charges against DJ Khaled and Floyd "Crypto" Mayweather for failing to disclose that they were paid to promote multiple ICOs.](<https://futurism.com/wp-content/uploads/2018/11/sec-dj-khaled-floyd-crypto-mayweather-cryptocurrency-fraud.jpg>)
*\<em\>Image: Allen Berezovsky/Brad Barket/Getty Images\</em\>*

## Another One

The Securities and Exchange Commission (SEC) charged both DJ Khaled — infamous for his opposition to [reciprocating oral sex](<https://www.independent.co.uk/arts-entertainment/music/news/dj-khaled-the-breakfast-club-oral-sex-interview-2015-a8337276.html>) — and [Floyd "Crypto" Mayweather](<https://twitter.com/floydmayweather/status/900459256784334851?lang=en>) with [cryptocurrency-related crimes](<https://futurism.com/crypto-mining-bail-bloc-ice-custody>) on Thursday.

Apparently, both took money to promote companies' initial coin offerings (ICOs), a common fundraising strategy for tech startups. But they didn't disclose those payments, [*CNN* reports](<https://www.cnn.com/2018/11/29/tech/dj-khaled-floyd-mayweather-coin-crypto-sec/index.html>), making this the first time the [SEC has charged anyone](<https://futurism.com/cryptocurrencies-sec-ico>) for promoting an ICO.

## Sponsored Content

By and large, there's no reason to be surprised that these two celebrities ended up in hot water: Mayweather made $300,000 promoting three separate ICOs. The company behind one of them, Centra Tech, also paid Khaled $50,000 to the same end. The two failed to disclose these payments during their promotions, which just so happened to involve cryptocurrency.

As with [all things cryptocurrency](<https://futurism.com/tech-research-investigated-43-blockchain-startups>), it seems that there's a lot of money invested in hyping up a tech company's prospects — but not much substance backing people's investments.

**READ MORE:** DJ Khaled, Floyd Mayweather Jr. charged with cryptocurrency fraud \[*CNN*\]

***More on cryptocurrency: [This $799 Home Crypto Mining Machine is a Terrible Investment](<https://futurism.com/crypto-mining-machine-beautiful-utterly-pointless>)***

## Author
Dan Robitzki is a senior reporter for Futurism, where he likes to cover AI, tech ethics, and medicine. He spends his extra time fencing and streaming games from Los Angeles, California.

### Author social links  
[Twitter](<https://x.com/danrobitzski>)