Boxing champion Pacquiao wants to send coins, heavy punches or digging holes?

According to the South China Morning Post, on Sunday, the famous Filipino boxer Manny Pacquiao announced his own cryptocurrency Pac at a free concert in Manila. Token, which sang a serenade for more than 2,000 fans at the concert and recommended them to participate in their own cryptocurrency.

In history, there are also boxing superstars like Tyson and Mayweather who have staged blockchain projects, but in the end they all ended in disappointment. In addition, the US Securities and Exchange Commission (SEC) also had a phenomenon of celebrity platform blockchain projects. A warning has been issued stating that this act may involve breaking the law.

(Photo: Boxing Manny Pacquiao, from scmp.com)

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Pacquiao’s Pac token is said to have received former Liverpool and English football star Michael Owen and Abu Dhabi club member Sheikh Khalid Bin Zayed Al Nahyan (Sheikh Khaled bin Zayed al-Nahyan) and other private investors.

According to the description, Pacquiao hopes to raise funds through this "PAC" token and allow its fans to use the token to purchase his merchandise and interact with it through social media.

Blockchain project in the history of the boxing station

In fact, Pacquiao is not the first boxing champion in the blockchain project. As early as 2015, heavyweight boxing champion Tyson once endorsed a Bitcoin Direct Bitcoin ATM machine, and this machine Committed to convert cash into bitcoin in less than 20 seconds, however, Tyson's hard work did not make this ATM machine big, and its manufacturer Bitcoin Direct quickly lost its voice.

In 2017, the hot ICO market attracted another boxing emperor superstar, Floyd Mayweather. The boxing champion did not choose to speak for Bitcoin, but chose to support it. Centralized forecasting market project STOX, which also boldly induced its fans to participate in STOX investment.

Tragically, since Mayweather endorsed STOX, the price of this "King of Fighters" is falling like a laxative:

(Data from qkl123.com)

("Fist King Coin" fell from the highest 18.51 yuan in the endorsement, the current market price is about 0.1 yuan, a drop of 99.46%, even worse, the current daily trading volume of the currency is less than 10,000 yuan, with Risk of the exchange's removal)

SEC warned that celebrities promote ICO or suspected of breaking the law

The US Securities and Exchange Commission (SEC) has issued a warning to the public about the phenomenon of celebrity platforms promoting blockchain projects:

"If the token is treated as a security and the celebrity does not disclose "nature, size, and compensation for promotion," such an endorsement may be suspected of breaking the law."

The Pac token issued by Pacquiao belongs to its own issued token, and may also be within the SEC's warning.

According to relevant media reports, the new "King of Fighters" is related to the Singapore Exchange GCOX, which claims to establish a token ecosystem, which is said to have established cooperation with other celebrities.

Perhaps this is another big pit that uses the influence of a gas star.

Related article: US Securities and Exchange Commission: celebrity endorsement ICO or illegal, investors need to be vigilant

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