Crypto Sill John McAfee Claims SEC is Responsible for Closing ICO Pump

Cybersecurity developer and in some cases cryptocurrency shill John McAfee stated on his Twitter account that he will stop sponsoring initial coin offerings (ICOs).

The peculiar McAfee who earlier swore that he will “eat my d-k” if the bitcoin price is unable to hit $1 million by 2020, said on Twitter that he will no longer support ICO as a result of pressure from the US Securities and Exchange Commission (SEC).

“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 arresting. It is unjust but it is a reality,” he wrote. “I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.”

The SEC had previously alerted celebrities that they may face enforcement actions for sponsoring fake ICOs and going against other securities regulations such as disclosure requirements for paid endorsements.

With the help of his ICO advisory service, McAfee states that he fined $500,000 per tweet including $100,000 per reply. For now, his website claims that tweets cost $105,000 across the board.

“Obviously, people feel that it is worth it,” McAfee said on Twitter. “Statistically, each tweet averages over $3 million in revenue for my clients – a 600% return.”

In May, an ICO recommended by McAfee landed in trouble following proof that the project has copied its website content and whitepaper from another project.

Quite recently, McAfee announced his plans to run for president in 2020, either in the Libertarian Party or through a political party he will form. He tried to run for the Libertarian nomination in 2016 but was unsuccessful.