Call me Floyd ‘Crypto’ Mayweather he said, standing in his matching pants and jacket(is that supposed to be some kind of ‘I just got into crypto’ getup.
Smart contracts for sports, they said!
Was it the revolution we all hoped for? Well, not really. The price plumetted to 0 along with Floyd Mayweather’s reputation as a crypto businessman.
This wasn’t the end, though.
In November 2018 Floyd Mayweather along with DJ Khaled, Mayweather agreed to pay a settlement of $750,000 with the Securities and Exchange Commission (SEC) for failing to disclose payments accepted from initial coin offerings, including a personal $100,000 check from cryptocurrency firm Centra Tech Inc.
“they are its first cases involving charges for violating rules on touting investments in so-called initial coin offerings, or ICOs.” said the SEC.
As part of the settlement, Mayweather undertook to forgo any endorsement or promotional agreement with a securities participant for three years.
Now that’s what I call a knockout from the SEC!