Nothing in Circle's posts announces a sponsorship, but replies dug up Khaled's 2018 SEC settlement over a crypto fraud he promoted. The internet never forgets.
- Circle, the issuer of USDC, posted a photo of DJ Khaled wearing a Chelsea jersey with 'USDC by Circle' on it, leading to backlash from Crypto Twitter.
- The controversy stems from DJ Khaled's past SEC settlement for promoting an ICO (Centra) without disclosing payment, leading users to accuse Circle of associating with a 'scammer'.
- Despite the backlash, the article suggests this was not a formal sponsorship but a 'cheeky nod' related to Circle's sponsorship of Chelsea FC, and DJ Khaled's past SEC agreement has expired.
Topics: Institutional adoption, Legal regulatory, Asset manager initiatives, Enforcement actions litigation, Securities law classification
Tags: #circle #usdc #djkhaled #cryptotwitter #secsettlement #ico #centra #kimkardashian #ethereummmax #undisclosedpayment
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