Saturday, October 28, 2017

"How Floyd Mayweather Helped Two Young Guys From Miami Get Rich"

NYT:

In September, he told his 13.5 million followers on Facebook not once but twice that they should buy a new virtual currency known as the Centra token.

...

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.

Thanks in part to the endorsements, in just a few weeks Centra’s founders raised over $30 million from investors around the world. They finished their fund-raising this month, just before a grand jury indicted two of the three co-founders on perjury charges stemming from a drunken-driving case.