Soulja Boy isn’t the first rapper to be charged with illegally advertising crypto.
But he’s one of the first.
SB, Lil Yachty, Akon, Jake Paul, Ne-Yo, Lindsay Lohan, Austin Mahone, and Kendra Lust have been charged by the Feds with “illegally touting” crypto securities Tronix (TRX) and BitTorrent (BTT) “without disclosing that they were compensated for doing so and the amount of their compensation.”
Boat, Akon, Paul, Ne-Yo, Lohan, Paul, and Lust have already settled with the SEC, paying a combined total of 400K in fines and interest.
However, SB and Moahone have refused to settle and are still facing SEC sanctions.
So maybe SB will be the first rapper to go to jail for illegally advertising crypto.