In the latest of what’s become a years-long trend, the Securities and Exchange Commission on Wednesday announced charges against a host of celebrities for boosting crypto assets without properly disclosing that they were paid for their endorsements.
Those charged included Lindsay Lohan, Jake Paul, Soulja Boy, Austin Mahone, Kendra Lust, Lil Yachty, Ne-Yo and Akon, according to a press release issued by the SEC.
The focus of the SEC charges is Justin Sun, a “crypto asset entrepreneur,” who owned a handful of crypto companies, “for the unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT),” the SEC said in its release.
