One of the greatest boxers of all time could face his most challenging opponent of all time: the SEC. Floyd Mayweather Jr proudly announced the
Floyd Mayweather returns again to the world of cryptocurrencies and NFTs
One of the greatest boxers of all time could face his most challenging opponent of all time: the SEC. Floyd Mayweather Jr proudly announced the “Mayweverse”, a collection of 5,000 NFTs that he says he has worked on “for months”.
If Mayweather’s past performance in the cryptosphere is anything to go by, the boxer may just is preparing for another bloody encounter with US financial regulators.
In a video posted on Twitter on March 21, the world-famous boxer outlined the value proposition of his latest project, called Mayweverseand the plot was all about Floyd Mayweather himself.
“Sir, I don’t lose on anything is back, and if you’re in the NFT world and you bet on me, you’ll never lose,” Mayweather said. Despite the boxer’s claims, Mayweather’s track record in crypto is anything but a success story.
Mayweather vs. SEC
Mayweather and cryptocurrencies first crossed paths when Mayweather promoted the initial coin offering (ICO) of Centra Tech in 2018. For your involvement in the scam project, Mayweather was fined $100,000.
It could be argued that Mayweather got away with it on that occasion. For orchestrating Centra Tech’s fraudulent crypto debit card, founder Sam Sharma was sentenced to 8 years in prison.
Around that time, Mayweather was also involved in promoting other dubious ICOs, including HubiiNetwork and STOX. When the SEC caught up and cornered Mayweather, they found that the boxer had profited from 300,000 dollars with the promotion of these three projects.
The ensuing fight between the SEC and Mayweather wasn’t even close.. The SEC seized Mayweather’s $300,000 profit, then hit him with a $300,000 fine and offered a final blow in the form of a $14,775 interest payment. Total, the SEC took $614,775 from the athlete before it hit the canvas.
In a final insult to injury, the SEC banned Mayweather from promoting securities for a period of three years. In the battle between the SEC and Floyd Mayweather, the record is 3-0 in favor of the bean counters, while Mister ‘I don’t lose at anything’ was crushed.
After many months of hard work
I’m launching my new NFT Project @mayweverse⁰
The collection will have 5,000 NFTs (5 different NFTs cards of 1,000 each).
Each card has a different rarity, utilities & prizes.
More information on the roadmap will be announced soon.
Stay Tuned🥊 pic.twitter.com/SxZ916p0HP
— Floyd Mayweather (@FloydMayweather) March 21, 2022
never throw in the towel
Floyd Mayweather may have had little success in his early crypto endeavors, the boxer is now comfortably out of the shadow of his previous SEC ban. The boxer now seems determined to show that he is not afraid to come face to face with the authorities again.
In 2021 Mayweather promoted Ethereum MAX alongside Kim Kardashian. The two now face a class action lawsuit for their efforts.
Since then, Mayweather has gone on with a number of NFT projects including Bored Bunny, Bored Bad Bunny (the sequel) and Floyd’s World NFT. The latest of these, Floyd’s World NFT, helped him raise $4.9 million. The ordinary people who backed these NFT projects were less fortunate, as all the projects came to nothing.
Now that Floyd Mayweather is hyping his latest crypto stuntthe only question that remains is how long it will be before his biggest nemesis, the SEC, decides to dust himself off, step into the ring and go to another round.
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