Lil Yachty and Soulja Boy among celebrities charged by SEC for illegally advertising crypto
Lil Yachty and Soulja Boy are among a group of famous faces who have been charged with illegally advertising cryptocurrency by the Securities and Exchange Commission. On Wednesday, the SEC filed the charges against the group of eight celebrities, which also includes musicians Ne-Yo and Akon, as well as Jake Paul, Lindsay Lohan, Austin Mahone, and Kendra Lust, with “illegally touting" crypto asset securities Tronix (TRX) and BitTorrent (BTT) "without disclosing that they were compensated for doing so and the amount of their compensation.” Despite not admitting or denying the SEC’s findings, each of the names mentioned by the SEC, except for Soulja Boy and Austin Mahone, has agreed to pay a total of over $400,000 in disgorgement, interest, and penalties to settle the charges.