Floyd Mayweather’s Crypto Scandals: Hype or Hustle?
Floyd Mayweather Jr. dominated the boxing world with speed, skill, and an untouchable record. But outside the ring, he’s entered an arena with no rules—crypto. A space where risk is high, rewards can be massive, and there’s no referee to call a stop when things get messy.
On this page
- Floyd Mayweather’s First Big Crypto Blunder
- An Investor’s Dream That Came Crashing Down
- Mayweather’s NFT Gamble: Big Hype, Bigger Letdowns
- Floyd’s World: Millions Raised, Then It All Went Dark
- Bored Bunny: Mayweather’s NFT Disaster, Round Two
- Mayweverse: Mayweather’s NFT Losing Streak Continues
- Crypto and Celebrities: The Hype, the Risks, and the Price of Influence
- Crypto’s Growing Pains: The Damage Done by Celebrity Endorsements
- And Mayweather?
- Mayweather’s Crypto Knockouts: What the Industry Must Learn
From hyped-up ICOs to speculative NFTs, Floyd Mayweather has aligned himself with numerous crypto projects over the years.
But not every move paid off. Instead of knockout success, his foray into crypto has landed him in hot water with regulators, sparked investor backlash, and reignited the debate on whether celebrities should be endorsing financial products at all.
This is the tale of how one of boxing’s greatest champions stepped into the volatile world of crypto scandals—and what it signals for the future of star-powered financial promotions.
Floyd Mayweather’s First Big Crypto Blunder
September 2017: Floyd Mayweather Jr. was at the top of his game in the ring—and taking a swing at crypto hype outside of it.
Get yours before they sell out, I got mine!
he tweeted, backing Centra Tech’s ICO, a project promising a crypto-linked debit card supposedly accepted by Visa and Mastercard.
The pitch? A crypto-powered debit card allegedly backed by Visa and Mastercard, making crypto transactions as seamless as traditional banking.
An Investor’s Dream That Came Crashing Down
It promised a fintech revolution. It delivered a financial scandal.
By 2018, Centra Tech was exposed as a fraud, with U.S. regulators revealing that its founders had fabricated key partnerships and scammed investors out of $32 million.
The SEC wasn’t just looking at the criminals behind the project—it also turned its gaze on the celebrities who helped promote it.
And in the eye of the storm? Floyd Mayweather.
It was later revealed that Mayweather received $100,000 for promoting Centra Tech but failed to disclose it—putting him in direct violation of SEC rules.
The consequences followed quickly.
By November 2018, he had reached a settlement, agreeing to pay $614,775 in penalties and interest.
But this scandal wasn’t just about a fine—it left a lasting impact.
This marked a historic first: a celebrity facing legal consequences for undisclosed cryptocurrency advertising.
Regulators made it clear—when it comes to financial promotions, ignorance isn’t an excuse.
But for Mayweather, this was just the first round in a much bigger crypto saga.
Mayweather’s NFT Gamble: Big Hype, Bigger Letdowns
Mayweather’s crypto troubles didn’t stop with ICOs—his venture into NFTs turned out to be an even bigger fiasco.
As the 2021 digital collectibles boom took off, his projects hit all the right buzzwords: exclusive drops, skyrocketing value, and… a community of investors wondering what went wrong.
Floyd’s World: Millions Raised, Then It All Went Dark
In August 2021, Floyd Mayweather introduced Floyd’s World, an NFT collection of 11,111 unique pieces, priced at 0.15 ETH each.
Excitement soared, and investors poured in over 1,000 ETH (approximately $3.4 million at the time).
But rather than build something lasting, the developers vanished—leaving behind unanswered questions and empty wallets.
Post-launch fallout:
- No more updates. No more engagement.
- The roadmap? Completely disregarded.
- The project? A rug pull in disguise.
Investors who thought they were buying into something valuable ended up with nothing but forgotten JPEGs and broken expectations.
Bored Bunny: Mayweather’s NFT Disaster, Round Two
After the Floyd’s World fiasco, you’d think Mayweather would step away from NFTs. Instead, in early 2022, he returned, lending his name to Bored Bunny—a flashy project promising exclusive benefits and rising token values.
Hyped-up investors jumped in, sinking over $20 million into what they thought was the next big thing.
And then? A slow-motion disaster.
Blockchain analysts exposed Bored Bunny as a “slow rug pull”—a scheme where developers steadily withdraw funds while gradually abandoning the project.
The story was a near-repeat of Floyd’s World: grand promises, heavy promotion, and a vanishing act soon after.
Mayweverse: Mayweather’s NFT Losing Streak Continues
You’d think two failed NFT ventures would be enough, but in April 2022, Mayweather tried again, launching Mayweverse—a 5,000-piece collection, each selling for 0.3 ETH (about $1,200 at the time).
The pitch? A metaverse-powered, real-value project that would finally deliver.
The result? The crypto world wasn’t falling for it. This time, there were no eager buyers—just skepticism.
Blockchain sleuth ZachXBT was quick to sound the alarm, calling Mayweverse yet another shady venture under Mayweather’s name.
The backlash was immediate:
- Mayweather’s NFT credibility was officially dead.
- Mayweverse failed to gain any real traction.
- More investors were left burned, with nothing to show for their money.
But beyond the financial risks, these failed ICOs and NFT projects exposed something even bigger—the unregulated influence of celebrities in speculative markets.
Crypto and Celebrities: The Hype, the Risks, and the Price of Influence
Mayweather’s track record in crypto—one failed project after another—has sparked bigger conversations about ethics, legal accountability, and the consequences of investing based on influencer hype.
A recent study in the Journal of Alternative Investments backs up these concerns. Researchers found that cryptos promoted by celebrities tend to under
Why?
Because in these ventures, flashy marketing often overshadows real-world value.
When hype drives the market, prices soar—but once the excitement fades, reality kicks in, and assets tumble back to their actual value.
Crypto’s Growing Pains: The Damage Done by Celebrity Endorsements
The pattern of hyped-up launches and inevitable crashes has left a deep mark on the industry:
- Investors are pulling back, wary of another rug pull.
- Regulators are stepping in with stricter policies.
- Even the most legitimate crypto ventures now face increased doubt.
And Mayweather?
Despite the damage to his credibility as a financial influencer, he keeps returning to the crypto scene.
Has he finally learned from past mistakes, or are we just waiting for the next scandal to unfold?
Time will tell.
Mayweather’s Crypto Knockouts: What the Industry Must Learn
Floyd Mayweather’s crypto saga is a lesson in the dangers of unchecked celebrity influence in speculative markets.
His endorsements—whether for ICOs or NFTs—have left a trail of legal battles, investor losses, and fraud accusations.
Unless the industry enforces stricter ad regulations and improves investor financial literacy, these scenarios will keep playing out.
Financial assets—especially in crypto—are not measured by celebrity endorsements or marketing buzz, but by true market value.
In an industry without clear regulations, even legends can fail their audiences.
And when the dust settles, it’s the investors who take the real hit.
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
