Lindsay Lohan, Jake Paul and four other celebrities agreed to pay a combined $400,000 to settle the SEC’s investigation of their role in the promotion of crypto assets TRX and BTT
WASHINGTON—U.S. regulators clawed back money that actress Lindsay Lohan and boxer Jake Paul earned by promoting cryptocurrencies, continuing a campaign of making examples of celebrities who tout digital assets in violation of investor-protection laws.
Ms. Lohan, Mr. Paul and four other celebrities agreed to pay a combined $400,000 to settle the SEC’s investigation of their role in the promotion of crypto assets TRX and BTT. The SEC also alleged that Justin Sun, whose companies sold those digital assets, artificially boosted TRX’s trading volume in 2018 and 2019 by having his own employees buy and sell the token.
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