Jake Paul and co charged $400K by SEC for illegally touting crypto asset
Jake Paul and other celebrities like Lil Yatchy and Lindsay Lohan were charged by the SEC for violation. The amount is close to $ 400k after fines and interests.
Follow Us
Jake Paul, Lindsay Lohan and other celebrities were charged by the SEC
The SEC charged Jake Paul and other celebrities with anti-touting laws associated with TRX and BTT. The laws state that Jake Paul and other celebrities needed to disclose if and how much they were paid to promote securities. Paul and other celebrities, such as Lindsay Lohan and Lil Yatchy, have agreed to pay $400k to settle the charge against them.
The entire problem started with tweets coming from celebrities to promote TRX and BTT. TRX and BTT are tokens closely linked with Justin Sun. Lohan and Yatchy tweeted it and got a fine of 10k, excluding interests, penalties and disgorgement. However, Jake Paul received a 25k fine for retweeting Lil Yatchy. The charges will get dropped after Paul and other celebs have agreed to pay the amount.
Jake Paul recently had his first career loss as a boxer. Paul was 6-0 as a boxer before running into Tommy Fury. In boxing bouts, Paul defeated former MMA champions such as Ben Askren, Anderson Silva and Tyron Woodley. However, Tommy Fury proved to be a tough opponent.
Lindsay Lohan, Jake Paul, and other celebrities charged for illegally touting Justin Sun's tokens
— web3 is going just great (@web3isgreat) March 22, 2023
March 22, 2023https://t.co/KZ4cZhedqN pic.twitter.com/gBzZ1txh4N
These were some of the paid tweets that were made without disclosure.
— web3 is going just great (@web3isgreat) March 22, 2023
Lohan and Lil Yachty got $10,000, Ne-Yo got $12,000, and somehow Jake Paul got $25,000 for retweeting Lil Yachty. If I was Lil Yachty I'd be mad lol pic.twitter.com/MfcYvZyYRN
In the bout against Fury (the brother of Heavyweight Champion Tyson Fury), Paul struggled to get his momentum, and Fury picked him apart with jabs and swift movements. Paul did manage to get a knockdown, but overall, Fury was the better boxer that day.
Related:Jake Paul next fight: 5 best options for him after first loss
Khamzat Chimaev thinks Jake Paul beats Nate Diaz in boxing match
Khamzat Chimaev does not think Nate Diaz can beat Jake Paul in a boxing match. There are speculations about Diaz and Paul potentially boxing soon. Nate Diaz has not fought since he departed from the UFC. With rumblings about the new fight announcement, Chimaev gave his thoughts on a potential Diaz vs Paul bout.
Khamzat Chimaev thinks Jake Paul would beat Nate Diaz if they ever fought.#TheMMAHour pic.twitter.com/ylnSw9gkRX
— Jed I. Goodman © (@jedigoodman) March 22, 2023
Chimaev said, “Diaz, weak, too old. Five years before, go back five years. No. But now, Diaz too old. His brother become old too. They both become old. Younger guys come in we take over.”
Chimaev thinks age will factor in any potential fight between Diaz and Paul. Diaz is in his mid-30s, and Paul is only in his 20s. It would favour Paul, according to Chimaev, as the flavours of youth are on his side.
In Case You Missed It
Stay Updated!
Nidhin Shibu
(2537 Articles Published)