SEC Settles with Promoters Who Didn't Disclose Their ICO Fees

Pro boxer Floyd Mayweather and music producer DJ Khaled pumped up initial coin offerings without telling investors they were getting paid a promotional fee, according to a settlement announced. The Securities and Exchange Commission said they are the first cases to charge touting violations regarding ICOs, a relatively new phenomenon that has attracted billions of investor dollars to new cryptocurrencies, often with little to back them up.

  • Read the article: CNBC