• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF

Lawsuit Filed Against Rapper T.I. for Participation in Alleged Cryptocurrency Scam

Kevin O’Brien
by Kevin O’Brien
6 years ago
·
Posted in News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to reports, a group of 25 investors have filed a lawsuit against T.I. and a businessman for their involvement in a fraudulent cryptocurrency scheme.


Rapper T.I. and businessman Ryan Felton now face a lawsuit from a collective of 25 investors who said the duo peddled a digital currency that was a get-rich-quick scheme.

According to TMZ, the rapper and businessman came up with a virtual currency called FLiK Token in August 2017.

Investors said they were convinced to pour $1.3 million into the cryptocurrency, with a token price of six cents each.

Felton reportedly told investors the virtual currency would have a price of $14.99 within 15 months.

Multiple plaintiffs said the token price jumped from 6 to 21 cents, but crashed downward to less than a penny each by August 2018.

An Elaborate Scheme

The lawsuit suggested the two boosted the token price with investor cash.

When asked about why the value plummeted, Felton reportedly said the decrease came after T.I. gave tokens to family and friends, who then sold them in mass amounts.

Investors said Felton hyped up the offering by claiming big investors were behind the token, and allegedly hinted billionaire Mark Cuban was getting involved.

Felton is also accused of creating a new company that acquired FLiK, and then denied being associated with it.

Actor Kevin Hart promoted FLiK on social media, but he is not involved in the lawsuit, which is seeking at least $5 million from T.I. and Felton.

https://twitter.com/KevinHart4real/status/909097402006671363?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E909097402006671363&ref_url=http%3A%2F%2Fwww.tmz.com%2F2018%2F11%2F01%2Fti-sued-lawsuit-cryptocurrency-flik-failed%2F

Cryptocurrency a Popular Topic For Rappers

Cryptocurrencies, for better or for worse, seem to have found a home inside of the rap community.

Back in February, rapper ‘Nipsey Hussle’ expressed great promise for cryptocurrency and blockchain. He said the “real boom” would take place once retail “accepts it as a form of payment.”

The rapper, who started investing in Bitcoin back in 2013, compared blockchain to the internet in terms of its revolutionary status in the technology field.

Soujla Boy expressed his love for cryptocurrencies on his new album “Young Drako,” and titled one of the tracks “Bitcoin.” In the song, he indicated he has Bitcoin and Litecoin, virtual currencies that are “my favorite ones.”

Soulja Boy

Another rapper, ‘The Game,’ has not had as much luck when it comes to the world of cryptocurrency.

Bitcoinist reported in September how his backed project, Paragon, had lost 96% of its market capitalization.

The idea of the project was to utilize blockchain to hash out legality issues related to cannabis in the United States.

What do you think about the lawsuit involving T.I.? Let us know in the comments!


Images courtesy of Twitter (@Tip), Bitcoinist archives 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Kevin O’Brien

Kevin O’Brien

Follow

Full Profile

Related Posts

crypto

Eric Adams, New York’s Crypto-Friendly Mayor, Won’t Seek 2nd Term

1 hour ago
India

India Cracks Down: Stricter Rules To Combat Rising Digital Payments Fraud

3 days ago
Philippines

Philippines Authorities Move To Put Key Public Records On Blockchain After Mass Protests

3 days ago
Nepal

Jack Dorsey’s Bitchat Becomes Lifeline For Nepalis In Protest Crisis

2 weeks ago
PrimeXBT: Empowering Traders in Crypto Space

PrimeXBT: Empowering Traders in Crypto Space

2 weeks ago
solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

4 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    4 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    6 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    7 days ago
  • Snorter надхвърли $4 милиона след...

    1 week ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.