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To dabble in the cryptocurrent is to explore a new and unfamiliar world, with strange rules, warring factions, matters mysterious and—frankly—ghoulishbold predictionsincomprehensible jargon, even more unfathomable valuations and rampant fraud—with all of the potential for losing enormous amounts of actual money the combination of those imply. Facing such perplexity and peril, it is no surprise that the blockchain beginner might look to an expert or adept to guide her through the ever-shifting dunes and tides. A familiar face or trusted brand lending an imprimatur to this coin or that, and with it a sense of assurance that you will not be the latest mug taken in by the latest obvious bitcoin scam. You know, a Kodak, or a Jose Canseco, or a Steven Seagal, or maybe even a Stephen Moore. Or a well-known rapper and star of the not-at-all-ominously-named reality television shows “Road to Redemption” and “The Grand Hustle.”

Grammy award-winning rapper Clifford Harris, known as T.I., agreed to pay a U.S. regulator $75,000 to settle charges that he broke securities laws by selling fraudulent crypto-currency investments, the agency said on Friday…. FLiK tokens were sold as investment contracts in the company which claimed it would operate as a “Netflix on the blockchain,” a streaming platform where users could buy products and services with FLiK tokens. But Felton allegedly used the funds to buy a Ferrari, million-dollar home, diamond jewelry and other luxury goods, the SEC said.

Rapper T.I. in $75,000 U.S. settlement over cryptocurrency offering [Reuters]



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By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

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(Getty Images)

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