Jake Paul and Lindsay Lohan among new batch of celebrities charged by SEC over crypto promotions

The Securities and Exchange Commission (SEC) has charged a new batch of celebrities over their involvement in promoting cryptocurrencies without disclosing their compensation. Among those charged are YouTuber Jake Paul and actress Lindsay Lohan. The SEC alleges that these celebrities were paid to endorse ICOs (Initial Coin Offerings) on social media without disclosing the compensation, leading to a violation of US securities laws. This follows previous charges against celebrities like DJ Khaled and Floyd Mayweather. The SEC is taking a tough stance on the promotion of cryptocurrencies as there have been numerous instances of fraudulent ICOs taking advantage of unsuspecting investors. These charges serve as a warning to both celebrities and promoters to be truthful about their compensation when promoting anything related to finance. It is important for investors to be vigilant and do their own research before investing in any ICO or cryptocurrency.