SEC Charges 8 Celebs In Connection With Cryptocurrency Promotions

Eight celebrities are facing charges for " law violations in connection with their promotion of cryptocurrencies."

Lindsay Lohan, Ne-Yo, Lil Yachty, Soulja Boy, Jake Paul, Austin Mahone, Akon, and Kendra Lust are the eight names that authorities have mentioned.

All of them are facing allegations of promoting crypto securities BitTorrent and Tronix without disclosing to the public that they were being paid to do so.

Apparently, the celebrities were given orders by Justin Sun to not disclose that they had been compensated for promoting BitTorrent and Tronix. Lohan has already agreed to pay a fine in regard to the situation and is denying that she knew she was required to disclose payment.

These eight celebrities are on top of the YouTube stars who earlier this week were served a class action suit for "allegedly promoting the cryptocurrency FTX without disclosing their own receipt of payment."

The YouTubers facing charges are Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, and Kevin Paffrath.