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
Most of the celebrities have no deep knowledge about crypto currencies especially in terms of ICO so there is a big chance that Seagal just accepted the offer because of money. Though he is now facing a charges against him as he didn't check first whether his action is good or bad.
Because if he know that he will end up facing some problems after the advertisement then I am sure that he or his management will think twice before they will accept the offer to advertise a certain ICO. Let's just hope that it will serve as an example to other celebrities so they will not accept any offer easily especially in terms of ICO advertisement.