Yesterday, the Securities and Exchange Commission (SEC) charged eight celebrities with violating investor-protection laws by endorsing cryptocurrencies without disclosing that they were being compensated. Lindsay Lohan, an actress, and Jake Paul, a boxer, were among those charged. Crypto entrepreneur Justin Sun and three of his companies also faced fraud counts. Sun, a protégé of Alibaba founder Jack Ma and a diplomat for Grenada, was accused of committing fraud by creating an appearance of active trading of Tronix and BitTorrent when there was none. Additionally, Sun was charged with orchestrating the campaign that concealed the fact that the celebrities were paid for their tweets. The other celebrities charged were Soulja Boy, a rapper; Austin Mahone, a singer; Kendra Lust, a porn actress; Lil Yachty, a rapper; Ne-Yo, a musician; and Akon, a Senegalese American singer. All except Soulja Boy and Mahone settled the charges with the SEC.