SEC fined Steven Seagal for advertising ICO. The actor did not disclose information about the funds received for the promotion of the project, which could mislead investors, the Commission explained.
Since the ICO, the price of the Bitcoiin2Gen token advertised by Segal has fallen by 99%.
do you think celebrities know that they advertise scam projects or they just dont understand what they are doing? I think this is a big problem for the market
I think most of them are not aware in the real score of the crypto projects that they are promoting, or maybe without personal knowledge in terms on how cryptocurrency works, remember when the boxing superstar Floyd Mayweather jr. promoted Centra that turn out to be a scam, until now my Centra CTR token still on my Binance account but lying lifeless. Manny Pacquiao and Derulo also promoting GCOX exchange but I don't know if still active till now. those are just an example of a few projects indorse by celebrities.