Mayweather fined $600 thousand for advertising crypto currency projects

Former world boxing champion in five weight categories Floyd Mayweather was fined $600,000 for promoting crypto currency projects in his instagram.

In summer 2017, Mayweather wrote on the social network that he was “spending bitcoins and other types of crypto currency in Beverly Hills with a Titanium Centra Card”. And this April, the founders of Centra were accused of fraud.

“Now you can call me Floyd Crypto Mayweather,” the undefeated boxer wrote in his post.

It became known that for advertising Mayweather received $300 thousand. Federal securities laws require celebrities to disclose payments for such activities, which Mayweather did not make. Now Floyd must return $300 thousand and pay the same amount as a fine.