Circle · DOJ · X · SEC · Decrypt
Circle Welcomes DJ Khaled to 'Team USDC' and Crypto Twitter Is Furious
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Circle, the issuer behind the USDC stablecoin, welcomed rapper DJ Khaled to “team USDC” in a post on X on Monday—and Crypto Twitter lost its collective mind.
Key facts
- For those who don’t get the joke, the SEC ordered Kardashian to pay $1.26 million in penalties, disgorgement and interest in 2022 for promoting the EthereumMax token on Instagram without disclosing
- In September 2017, Khaled had 12.4 million Instagram followers when he posted a photo of himself with a Centra Tech debit card, per the order, calling it "the ultimate winner in Cryptocurrency debit
- Co-founder Robert Farkas pleaded guilty and got one year and one day; Sohrab Sharma got eight years and had to forfeit $36 million
- Centra paid Khaled $50,000 for the post, per the SEC, and he didn't tell his followers
Summary
Circle's USDC account shared a photo of DJ Khaled, welcoming him to "team USDC" in a cheeky post on X. Crypto Twitter wasn't having it, and quickly replied with reminders of Khaled's history of crypto promotions gone wrong. But Circle is Chelsea FC's front-of-shirt partner, and Khaled is featured in the club's separate Roc Nation deal announced in May. Here’s what happened, and what appears to have caused the drama: USDC's official X account posted a photo of DJ Khaled wearing a Chelsea jersey with "USDC by Circle" across the chest, captioned "Another one," a nod to his signature catchphrase.