World Sport News

The US Securities and Exchange Commission in Washington has imposed a heavy fine on Floyd Mayweather, a long-time boxing world champion, for unauthorized advertising of financial transactions involving crypto currencies.

The 41-year-old has to pay a total of 600,000 US dollars because he promoted so-called “Initial Coin Offerings” (ICO) in the social networks against payment.

After a brief hype, ICOs are now regarded as highly speculative and dubious. Investors with this business model have recently suffered high losses on the financial markets.