Breaking: The Securities and Exchange Commission announced charges against a host of celebrities for boosting crypto assets without properly disclosing that they were paid for their endorsements.
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The complaint was filed in a federal district court in New York. In a statement, SEC Chair Gary Gensler said that Sun “induced investors to purchase TRX and BTT by orchestrating a promotional campaign in which he and his celebrity promoters hid the fact that the celebrities were paid for their tweets.”
With the exception of Soulja Boy and Mahone, the celebrities agreed to pay a total of more than $400,000 to settle the charges, without admitting or denying the SEC’s findings, the commission said.
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