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
@JCviggen in my personal opinion I feel that he may not have known what he was promoting as his manager would have finalised this deal, and would have kept the basic details hidden from him which is pretty normal as celebrities dont like to be bothered with all the basic details. In this particular case I feel investors are also guilty as they failed to do their due diligence, and i hope that next time no one will invest in a ICO just because a celebrity recommends to invest in it.