SEC charges Jake Paul for crypto promos

The famous Youtuber and fighter were among 8 celebrities charged by the commission for the promotion of crypto assets without saying that he was compensated for doing it.

Paul was charged for a tweet back in February 2021 where he promoted TRX tokens. Jake was compensated more than 25,000 dollars for the tweet paid in the crypto assets.

It breaks the SEC’s law stating that any famous person promoting virtual assets must tell how much he is paid to do so.

Jake was famous even was a boxing match was month against Tommy Fury, where he lost for the first time after a split decision.

Here’s a list of people who have been hit with Securities and Exchange Commission charges for violating securities laws in touting crypto currencies:

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Lindsay Lohan
Soulja Boy
Austin Mahone
Akon
Jake Paul
Ne-Yo
Lil Yachty

Read the full story here: https://t.co/MffzMEENRd

— Variety (@Variety) March 22, 2023

Some other celebrities charged for the same thing are Lindsay Lohan, Lil Yachty, Ne-Yo, Soulja Boy, and Akon.