How Floyd Mayweather Helped Two Young Guys From Miami Get Rich | NYTimes

Mr. Mayweather is among the many celebrities who have recently endorsed an initial coin offering, the name for a hot but loosely regulated new method of fund-raising in which entrepreneurs sell their own virtual currencies to investors around the world.
The boxer’s endorsement of Centra, along with a similar endorsement from the popular rapper DJ Khaled, lent a patina of credibility to a project that has ended up with more than a few problems, including a chief executive who does not appear to have been a real person and a shaky, fast-shifting business plan.

The so what: More and more mainstream attention on ICOs, in particularly the deluge of scam ICOs, will naturally lead to accelerated regulation in the space. Whether this regulation will be thoughtful or blunt will be up for debate...


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