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On August 4, 2023, celebrity singer Austin Mahone entered into a settlement agreement with the US Securities and Exchange Commission (SEC) after being sued in the US District Court for...
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Actress Lindsay Lohan, YouTuber Jake Paul and six other celebrities were charged by the U.S. Securities and Exchange Commission for touting cryptocurrencies on social media without disclosing that they were paid to do so.
Mahone, as well as others like Soulja Boy and Lindsay Lohan, were charged with fraud over their touting of cryptocurrencies.
More celebrities and social media influencers are in hot water with the U.S. Securities & Exchange Commission over allegedly being paid endorsers of cryptocurrency businesses without disclosing those payments.