Steven Seagal Pays up $330,000 Following his ICO Endorsement

Plenty of celebrities have openly endorsed initial coin offering in 2016 and 2017. It was a matter of time until that type of behavior would have negative repercussions. 

Steven Seagal is one of the multiple celebrities paid to promote an ICO

Steven Seagal Pays a Hefty Price

At the time, there was no pressure by the SEC for such projects.

Years later, Seagal came under scrutiny of the SEC for his association with an initial coin offering endorsement.

His endorsement pertains to Bitcoiin2Gen, an ICO which never amounted to much.

Steven Seagal hinted on social media to not miss out on this ICO.

Related Post

For this behavior, the movie star is now fined $330,0000, as Bitcoiin2Gen is an unregistered security offering. 

Becoming the brand ambassador of a project intent on raising millions despite having no business plan is never a smart decision.

It appears that Seagal also received $1 million for promoting this initial coin offering, which is a very substantial amount.

Of that transaction, $250,000 was paid in cash, and the remainder in the Bitcoiin2Gen tokens.

As this token plummeted in value after the ICO, it never amounted to much.

Steven Seagal never disclosed how he received a payment for his endorsement, albeit most people acknowledge he would never do something like this free of charge.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

A Guide to Authentication Methods (Infographic)

Stolen passwords and weak passwords are responsible for over 80% of security breaches in 2018,…

3 weeks ago

How To Boost FPS and Reduce Input Lag in Fortnite

One of the most common questions I get is how I can optimize FPS in…

3 weeks ago

Insane! Science Backed Method To Train Your Mouse Aim For FPS Games

If you are looking to improve your aim for your favorite competitive FPS title, chances…

1 month ago

Find Fortnite Clan – A Directory of Top Fortnite Clans

Are you looking for a Fortnite clan or team to join? Chances the answer is…

1 month ago

Find Valorant Clans and List Your Own Team for Free

Now that Valorant has been out for quite some time, the players that are looking…

1 month ago

The Lonliness Economy

Chronic loneliness can shorten lifespan by as much as 20 years - more than alcoholism…

2 months ago

This website uses cookies.