John McAfee Will No Longer Promote ICOs, Cites 'SEC Threats'

Anti-virus pioneer and crypto evangelist John McAfee tweeted that he will no longer work with initial coin offerings or promote them due to "Threats" from the U.S. Securities and Exchange Commission.

Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest.

I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch.

In April, McAfee revealed that he charges $105,000 per tweet to promote cryptocurrency projects and products.

McAfee claimed that if you divided the cost by his total number of Twitter followers, the "Cost per investor reached" is only $0.13, to which he added, "This is orders of magnitude less than any other approach."

In January, Cointelegraph asked McAfee in an interview whether anyone had tried to pay him for promoting a project or product, and if so, which projects.

Last month, McAfee announced plans to release his own "Fiat" currency backed by cryptocurrency, which will be redeemable for face time with him.

McAfee then tweeted about the run, noting that although he doesn't think he actually has a "Chance of winning," the bid will give him a platform to tell the "Truth."

Last month, the SEC launched a fake ICO website to increase awareness of the typical warning signs of scam ICOs and to promote investor education.

In April, SEC Commissioner Robert Jackson criticized ICOs, stating that the crypto space "Has been full of troubling developments that we've seen at the SEC, and especially the ICO space."