Circle, the issuer of the USDC stablecoin, posted a photo of DJ Khaled wearing a Chelsea FC jersey with the USDC logo, humorously welcoming him to team USDC on X. Crypto Twitter swiftly criticized the move by highlighting the rapper’s controversial crypto history, particularly his promotion of the fraudulent Centra ICO, for which he paid over 150,000 dollars in fines to the SEC for failing to disclose a paid promotion. However, this post appears to be an informal social media gesture rather than a formal sponsorship deal: Circle is Chelsea FC’s front-of-shirt sponsor, and DJ Khaled is associated with the club through a separate agreement with Roc Nation announced in May. The founders of Centra received prison sentences in 2020 for raising over 25 million dollars through the fraudulent ICO.
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