Boxer Floyd Mayweather Jr. and music producer DJ Khaled settled charges by the SEC related to their promotions of so-called initial coin offerings Thursday.
Mayweather promoted the offerings, including one from Centra Tech, on his Instagram and Twitter accounts, according to an SEC press release.
The actions came after the SEC warned in 2017 that people promoting the cryptocurrency offerings must comply with federal securities laws. The SEC is pursuing a civil action against Centra's founders, alleging the offering, which raised $32 million, was fraudulent.
Mayweather agreed to disgorge $300,000 in payments received to promote three ICOs as well as a $300,000 penalty, and $14,775 in prejudgment interest.
Khaled will pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest.