SEC charges Lindsay Lohan and other celebrities with illegally touting crypto tokens

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SEC charges Lindsay Lohan and other celebrities with illegally touting crypto tokens
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Lindsay Lohan and a few other celebrities were fined for touting the crypto tokens Tronix and BitTorrent without disclosing they were getting paid to do so and how much they got for promoting it.

Six of the celebrities settled with the SEC, agreeing to pay a total of $400,000 without admitting or denying the regulator’s findings. Soulja Boy and Mahone did not settle.

This isn’t the first time celebrities have faced regulators’ scrutiny for their involvement in promoting crypto. Former NBA star Paul Pierce was fined $1.4 million by the SEC in February for touting EMAX crypto tokens. In October 2022, Kim Kardashian paid $1.26 million to settle claims by the SEC that she failed to disclose that the EthereumMAX post on her Instagram story was a paid ad.

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