crypto

The Game Could Have To Forfeit Crypto Wallet

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Like many out there, The Game similarly wishes he never got involved in the crypto market in the first place. According to HipHopDX, his crypto wallet could end up going towards payment he owes for a 2016 sexual assault lawsuit. In 2016 She Got Game star Priscilla Rainey won $7.1 million in a lawsuit against The Game. Overall, the lawsuit stemmed from an incident that happened on a date between the two that Rainey was led to believe was part of the reality show she was on. Apparently, she’s only received around 5% of the money she’s owed in the years since.

Subsequently, Rainey targeted his crypto holdings to get her money. The rapper has always been an advocate for the crypto marketplace and has quite a bit in digital assets and NFTs. Although, this isn’t the first time his involvement in crypto has come back to bite him either. In 2021 he was part of a multi-million dollar lawsuit related to Paragon Coin Inc. The company committed to an unregistered initial coin offering in 2017. For his role in the incident, The Game consequently had to pay $12 million.

Jayceon Terrell Taylor aka “The Game” arrives the Universal Pictures And Legendary Pictures premiere of “Straight Outta Compton” on August 10, 2015 in Los Angeles, California. AFP PHOTO / VALERIE MACON (Photo credit should read VALERIE MACON/AFP via Getty Images)

Much like Kim Kardashian has with her daughter North, The Game has faced accusations of being a bad parent for his daughter’s social media antics. After his 12-year-old daughter shared a TikTok of her singing Sexyy Red’s “Pound Town,” The Game came under fire. Afterwards in a social media post, however, he came to his daughter’s defense.

Additionally, it was only a few months ago that The Game last dealt with the fallout from his case. In January, Rainey took aim at Universal Music Group, Game’s label. Rainey is seeking the money she’s owed from the label directly. What do you think of the newest development in The Game’s attempts to not pay for the lawsuit? Let us know in the comment section below.

Read More: Charles Hamilton Reflects On Kanye West & The Game Cypher

[Via]

The post The Game Could Have To Forfeit Crypto Wallet appeared first on HotNewHipHop.

Lindsay Lohan, Jake Paul, Soulja Boy, Lil Yachty And More Have Been Charged By The SEC For Promoting Crypto Without Disclosing They Were Paid To Promote Crypto

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lindsay lohan
planet fitness

After only just emerging back into the public eye as the spokesperson for Pepsi’s questionable concoction of milk and cola with the questionable nickname “Pilk,” Lindsay Lohan is in hot water with the SEC over pitching crypto without disclosing that she was paid for the endorsements. She’s also not alone. According to The Hollywood Reporter, Lohan, Jake Paul, Kendra Lust, Soulja Boy, Ne-Yo, Lil Yachty, Akon, and Austin Mahone are all being charged in connection with their endorsements for TRON founder Justin Sun’s crypto companies.

“As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities,” said director of the SEC’s Division of Enforcement Gurbir S. Grewal. “At the same time, Sun paid celebrities with millions of social media followers to tout the unregistered offerings, while specifically directing that they not disclose their compensation. This is the very conduct that the federal securities laws were designed to protect against regardless of the labels Sun and others used.”

The celebrities charged, except Soulja Boy and Mahone, have agreed to pay $400,000 and effectively plead no contest to avoid admitting wrongdoing. This isn’t legal advice, but they should all probably fire whoever gave them the legal advice that it’s cool to do paid crypto promotion without telling people (and the SEC) that you got paid.

These cases are different than other celebrity-endorsed-crypto cases in the recent past, including the FTX investors suing their celebrity endorsers for allegedly making crypto investments seem safer than they are. For now, most involved in this crypto flim-flam can chug a warm glass of pilk and be glad it’s all over.

(via The Hollywood Reporter)

The Game’s Crypto Company Registration Revoked

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The Game rapper

Words by: Brandon Simmons

Compton rapper The Game is one of the many people to invest in cryptocurrency.  He backs a crypto startup company, ParagonCoin Limited, which is mainly involved in the marijuana industry.

Recently, the ex-G-Unit member’s crypto company had its registration revoked via the United States Securities and Exchange Commission.  The SEC claims the company has not filed periodic reports since 2019.  The commission also reports that they have sent letters to ParagonCoin Limited regarding the need to complete the necessary reports.  The letters were never answered.

The “Wouldn’t Get Far” rapper’s company has had issues since its initial offering in 2017.  In 2021, the company was sued for violating securities laws during the initial offering four years prior.  ParagonCoin now owes over $12 million in damages, which is the $12 million the company raised in its Initial Coin Offering.

According to ParagonCoin’s official website, the crypto company is filing for bankruptcy.  In a statement, the firm credits the lawyers they hired as for why the company has become insolvent. 

“Our goal was to build a much-needed decentralized solution for the cannabis industry, however, our plans were impossible to achieve due to several legal mistakes….we sought out the guidance of highly recommended lawyers that were supposed to help, unfortunately they misguided and failed us.”

The post The Game’s Crypto Company Registration Revoked appeared first on The Source.

Takeoff And Rick The Kid Flex Their ‘Crypto’ On Their Ambitious Collab

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Back in 2018, less than a year after they released their third album Culture II, Migos decided that they were going to break off for a brief moment and release solo albums. Quavo dropped Quavo Huncho, Offset delivered Father Of 4, and Takeoff released The Last Rocket. In the grand scheme of things, the projects weren’t as beloved as the Migos projects as they helped to highlight while the group works so well together. Now, almost four years later, there’s no sign that the trio is preparing to release solo projects again, but some, including Takeoff, have released songs as individual artists.

For the first time since he dropped The Last Rocket, Takeoff is back in action as a lone act. With his latest release, he calls on Rich The Kid to join him for “Crypto.” The track is of course focused on cryptocurrency as the rappers flex their wallets and how much they’ve attained. It also arrives with a laid-back video that follows Takeoff and Rich as they walk through city streets and kick it on a plane as they brag about their finances.

The new track comes after Takeoff lent his voice to Roddy Ricch’s sophomore album Live Life Fast where he appeared on “Paid My Dues.” As for Rich The Kid, he recently teamed up with Lil Wayne for their joint project, Trust Fund Babies.

You can listen to “Crypto” in the video above.