Blockchain sleuth Zackxbt called out former boxing world champion Floyd “Money” Mayweather about his fraudulent token activities. Answering a now-deleted post on X where Mayweather promoted a Solana address for his token, Zackxbt asked if the boxer deserved a 13th chance, given the numerous failed and disappeared projects he had promoted before. Zackxbt stressed that […]
Bitcoin News
Here’s Why Floyd Mayweather is Selling Tickets as NFTs
The adoption of NFTs is so massive that legends such as Floyd Mayweather are participating in events where fans must buy NFTs in order to attend. Dubai is hosting the world’s first NFT pay-per-view event that features Floyd Mayweather and Anderson Silva as part of The Global Titans Fight Series.
Floyd Mayweather is the undefeated boxing fighter that is also a prominent advocate of blockchain technology and NFTs, with his own NFT collection available on https://floydnft.com/. The legend will be participating in an exciting and thrilling match with Don Moore. Other participants of the event include Bruno Machado, Badou Jack, Hany Atiyo, Ryan Ford, Bilal Laggoune, Delfine Persoon, and more.
Being the first NFT pay-per-view event, all viewers must purchase tickets from Rarible. NFTs purchased for the event give the holder exclusive event access.
This event is a prime example for the potential use-cases for the NFT and blockchain industry.. Several NFT projects have been leveraging the exploding popularity as a means to give back to their community, curate interesting and exciting content for, and connect people with exclusive real life groups and events.
One of the projects that cater to high-profile clients in the NFT Space is Crypto Panther Club.
Crypto Panther Club – The Digital and Real-Life Community
Crypto Panther Club is a collection of 5,555 unique 2D animated Panther designs curated on the Ethereum network by Glod, an internationally recognized artist and one of the youngest and most popular modern artists from Austria.
They have even partnered with Chainlink to ensure a fair and verifiably random distribution for the NFTs when buyers come on the minting date.
Every NFT in this collection offers the holders real-life benefits such as physical artwork, access to parties, and street art with holder rewards. Crypto Panther Club offers truly decentralized NFTs where all metadata is stored on IPFS (InterPlanetary File System) making it tamper-proof. Every NFT is exclusive and unique based on hundreds of different traits with the goal to build the strongest community in the art space.
Crypto Panther Club has already amassed appreciation and was awarded NFT Project of the Year 2022 by AIBC Summit Asia. The NFT collection combines the real world and digital worlds as collectors no longer simply own NFTs but also artworks by Glod with access to community and lifetime benefits.
To find more information on the official launch of Crypto Panther Club which will happen in London, visit https://cryptopanther.club/ to learn more about the exciting opportunities that await and join their community for an exclusive experience.
Floyd Mayweather and DJ Khaled Escape Lawsuit Brought by Defrauded ICO Investors
n Floyd Mayweather and DJ Khaled have been dismissed from a lawsuit brought by those who invested in a fraudulent ICOn
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Floyd Mayweather, DJ Khaled Escape Lawsuit Brought By ICO Investors
Floyd Mayweather, DJ Khaled and two employees of the Centra Tech ICO project have been dismissed from an investor lawsuit by a federal judge.
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Founders of ICO Endorsed By Floyd Mayweather Indicted for Fraud
The U.S. Attorney for the Southern District of New York has announced that the co-founders of a Floyd Mayweather-backed ICO have been indicted.
CoinDesk
Floyd Mayweather and DJ Khaled Risk Lawsuits Over Alleged ICO Scam
Celebrities who have endorsed initial coin offerings are at risk of legal action from regulators and investors, following a fraudulent ICO promoted by champion boxer Floyd Mayweather and musician DJ Khaled.
SEC May Pursue Celebrities Who Have Endorsed Alleged ICO Scam
Legal experts in the US have warned that boxer Floyd Mayweather and musician DJ Khaled may be presented with lawsuits for having endorsed an alleged cryptocurrency scam, a startup called Centra Tech who raised million from thousands of investors via an initial coin offering. Sohrab Sharma and Robert Farkas have been charged with fraud for selling “unregistered securities” related to the million they raised from the ICO of their CTR coin.
“They are clearly sending a signal,” Nick Morgan, a former SEC attorney and a partner at US law firm Paul Hastings, told the Financial Times, and added that the SEC had “left the door open” to others who may have broken the law while promoting ICOs, including Floyd Mayweather and DJ Khaled. “There was nothing in there that I think anyone should take comfort from, just because they were not individually named.”
The SEC has warned that promoters, such as celebrities, had to disclose any compensation they received to promote an ICO, but the regulator did not comment on whether it is pursuing those who broke the law while promoting initial coin offerings. Mayweather and DJ Khaled risk being found to have aided and abetted the alleged scam. In the meantime, there are dozens of cryptocurrency-related class actions pending, which will see the light of day in the coming three months.
US regulators have been clamping down on the sector as the lack of oversight has attracted many scam opportunities. The concept of initial coin offerings has been abused and its credibility is in danger for many. Crypto Aware, a decentralized token investment-management community, has found that over .7 billion-worth of cryptocurrencies were lost to hacks and scams between 2011 and 2018. A recent study conducted by Satis Group claims that 81 percent of the ICOs turned out to be scams, 6 percent failed, and 5 percent had “gone dead”, which comes to a total of 92 percent failing to list on cryptocurrency exchanges.
The US laws regulate publicity around the sale of securities. Even if an ICO is not a scam, their promotes may face legal action if the offering is not registered with the regulator.
Centra Tech, the Florida based company on trial, claimed to be “creating a world connected to cryptocurrency” through their products. DJ Kahled and Floyd Mayweather promoted the ICO on Instagram and Twitter.
The post Floyd Mayweather and DJ Khaled Risk Lawsuits Over Alleged ICO Scam appeared first on NewsBTC.
Mayweather ICO Founders Knocked Out by SEC for Fraud
The US Securities Exchange Commission’s new Cyber Unit task force has taken down boxing great Floyd Mayweather’s sponsor, Centra Tech, alleging their ICO was based on fraudulent products and made up biographies.
SEC Charges Mayweather Sponsor with Fraud
The SEC announced on Monday that it was charging the founders of Centra Tech with fraud based on claims the company made about their suite of cryptocurrency related products such as e-wallets and major credit card backed prepaid debit cards.
Sohrab Sharma and Robert Farkas have been charged with fraud for selling “unregistered securities” related to the million they raised from the ICO of their CTR coin between September 19 and October 5. Both men have been separately charged by criminal authorities of the same crime according to the SEC’s official press release.
The Florida based company that claimed to be “creating a world connected to cryptocurrency” through their products has been charged with violating the anti-fraud and registration provisions of federal securities laws.
The charges were brought when the SEC discovered the company has no agreement with either MasterCard or Visa to support their prepaid cards and also for having falsified impressive biographies and creating false or misleading marketing materials.
Centra Tech paid for celebrity endorsements from both DJ Kahleed and boxing legend Floyd Mayweather who touted the company on Instagram and Twitter to entice customers to invest millions into their ICO. Mayweather Tweeted out this message to his followers on the launch of the CTR ICO.
Centra's (CTR) ICO starts in a few hours. Get yours before they sell out, I got mine https://t.co/nSiCaZ274l pic.twitter.com/dB6wV0EROJ
— Floyd Mayweather (@FloydMayweather) September 18, 2017
Steve Peikin, Co-Director of the SEC’s Division of Enforcement, took Centra and its co-founders practices to task in his press release saying.
“[T]he defendants relied heavily on celebrity endorsements and social media to market their scheme … Endorsements and glossy marketing materials are no substitute for the SEC’s registration and disclosure requirements as well as diligence by investors.”
Cyber Units Effects on ICO Fundraising Felt Already
The SEC let tech companies know they were getting serious about digital securities fraud when it created its cyber unit which is wholly dedicated to the investigation and prosecution of ICO’s and blockchain related companies. They announced in February that an official probe into the market had begun.
Since then 80 subpoenas and more information requests have been issued to cryptocurrency companies and advisors launching ICO’s as part of an ongoing probe into the digital currency market.
The cyber units effect may already be taking hold as cryptocurrency based ICO’s have fallen off since the probe began raising just over 0 million in March which was half the amount of the previous month and the lowest since August.
Hong Kong exchange Binance reacted quickly to the news by posting a warning about the CTR token on its announcements page;
“This is a special announcement about the high risk associated with the CTR token in light of the information released earlier today relating to the controversial and fraudulent acts by members associated with the Centra Tech team.
We will continue to seek more information and monitor the situation closely, and may take further action including delisting. Should we choose to delist the token, a notice period of no less than 72 hours will be provided.”
The post Mayweather ICO Founders Knocked Out by SEC for Fraud appeared first on NewsBTC.
Class-Action Suit Targets ICO Promoted By Floyd Mayweather, Jr.
An initial coin offering ICO promoted by boxing champion Floyd Mayweather, Jr., is at the center of a newly filed class-action complaint.
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Class-Action Suit Targets ICO Promoted By Floyd Mayweather, Jr.
An initial coin offering (ICO) promoted by boxing champion Floyd Mayweather, Jr., is at the center of a newly filed class-action complaint.
CoinDesk
Floyd Mayweather Fights in Bitcoins Corner
Boxing champion Floyd Mayweather has been spotted spending Bitcoin in California&8217s Beverley Hills proving that…nThe post Floyd Mayweather Fights in Bitcoin&8217s Corner appeared first on Bitcoinist.com.n
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