Celebrities, including Lindsay Lohan and Jake Paul, charged by SEC for promoting crypto
The SEC has charged eight celebrities, including Jake Paul and Lindsay Lohan, with promoting cryptocurrencies Tronix and BitTorrent without disclosing that they were compensated for doing so. The complaint also alleged that entrepreneur Justin Sun and three of his companies were charged for the unregistered offer and sale of TRX and BTT. Six of the celebrities agreed to pay a total of more than $400,000 to settle the charges without admitting wrongdoing. The charges were not the first actions by the SEC against celebrities it alleged had illegally promoted cryptocurrencies.