Floyd ‘Money’ Mayweather is going to die a very rich man, but apparently, his thirst for money is unquenchable.

It’s that hunger for money that will see him fight Japanese 20-year-old Tenshin Nasukawa in Tokyo on New Year’s Eve (although that date may change), in a showdown that even some of his fans think is a shameless money grab.

Still, not as shameless as his promoting investment in cryptocurrency startups, for which he and DJ Khaled have been fined by regulators.

The Telegraph reports:

[They] have settled charges bought by the US Securities and Exchange Commission for unlawfully promoting the sale of tokens in initial coin offerings on Twitter and Instagram.

ICO’s, as they are known, are used by cryptocurrency startups to raise millions of dollars from investors. While promoting the company’s token offerings, Mayweather did not disclose that he had received payments from three different issuers, including a $100,000 payment from Centra Tech.

Mayweather’s promotional work for Centra included a message to his almost 8 million Twitter followers that said that the ICO “starts in a few hours. Get yours before they sell out, I got mine…”

On Instagram, Mayweather wrote to his over 22 million followers that he predicted he would make a lot of money from another ICO and posted on Twitter, “You can call me Floyd Crypto Mayweather from now on.” Mayweather was also paid an additional $200,000 to promote two other ICOs…

Without admitting or denying the findings, Mayweather and Khaled have both agreed to pay large fines to the SEC. Mayweather will pay $614,775, whereas Khaled will pay $152,725 to the regulator.

Mayweather and Khaled have both agreed to not promote any securities, digital or otherwise, for a period of three and two years respectively.

How much money does Floyd need? Also, I will never, ever understand the appeal of DJ Khaled.

A quick hi to all the #BoetcoinBros reading this, and waiting for us to have a dig at their golden goose. Relax, guys, just because news outlets all over the world are saying this might be the end, and Bitcoin has lost about 80% of its value in a year, doesn’t mean it’s over.

[source:telegraph]