Crypto influencer "Soulja Boy" ordered to pay $45,784 by the SEC for promoting Justin Sun's Tron and BitTorrent tokens

Hip-hop star Soulja Boy has promoted crypto many times on Twitter (5.2 million followers) and other social media channels. Two of the cryptos that he promoted, TRX and BTT, he was paid by Justin Sun to promote, but never disclosed that it was a paid endorsement.

In March 2023 the SEC filed a complaint against Justin Sun for artificially inflating trade data on TRX among other things. Soulja Boy was also named in the complaint for promoting two of Justin Sun's tokens, TRX and BTT, and not disclosing that it was a paid promotion.

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SEC Punishment

The SEC has issued theirfinal judgment against Soulja Boyordering him to pay $45,784 in fees and fines. The crazy thing is that the $45,784 is likely much less than he was paid by Justin Sun to promote his tokens so even with the fine he is still likely making money.

The SEC case against Justin Sun is still ongoing and has not been resolved.