The Sports Illustrated Magazine issued a new report stating that football players from Florida State University can earn $500.00 in October 2021 by being willing to endorse Yummy Crypto. That’d cost this recently launched cryptocurrency institution $60,000.00 if the full lineup of 120 FSU Footballers agrees to endorsement. It’s been noted by Yummy Cryptos CEO that to date, 60 Players from Florida State University have agreed to sponsorship. This includes McKenzie Milton, the head quarterback.
This endorsement wouldn’t have been possible unless the NCAA Association had agreed to allow college & university level players to use likeness or namesake for sponsorship. Now, FSU Footballers that have received compensation will be required to make weekly posts on their social media feeds. These posts must relate to services offered through Yummy Crypto, with CEO Corey Johnson not providing any clarification if $500.00 will be distributed weekly or yearly. That’s considerably different from Cryptocurrency Casino Betting Sites that fully disclose their requirements, licensing, and information to consumers.
Yummy Crypto stipulates that they’re a charitable organisation that has donated $1 Million towards defeating world hunger. However, further research into Yummy Crypto shows that 3% of their profits are donated towards charities. The remainder stands as profits generated by CEO Corey Johnson & other executives employed by Yummy Crypto. However, this is a charitable organisation. That means taxes are evaded in the United States. But when you consider that 3% of their profits are donated, it’s hard to reconcile Yummy Crypto as a charitable organisation. 97% of their yearly income is regarded as untaxable profit. It’s noted that when questioned by Sports Illustrated for verification of Yummy Cryptos philanthropic donations, no indications of proof were issued. This is concerning as charitable donations are typically good publicity for any company.
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Yummy Crypto launched their Binance Smart Chain Token, more commonly known as BEP20 Tokens. It’s named Yummy & trades below the valuation of one penny. Moreover, the Yummy BEP20 Token is solely available through the MetaMask Exchange. This has prompted reservations among industry leaders, as Yummy Crypto stipulates their affiliation with CoinBase. But there isn’t any method of purchasing the BEP20 Token through CoinBase, meaning that CEO Corey Johnson has allowed his company to advertise their services falsely.
The falsities don’t stop with claiming that Yummy BEP20 Tokens are accessible through the CoinBase Exchange. It’s also stipulated that consumers can solely track the value of Yummy’s BEP20 Token on CoinBase. However, CoinBase doesn’t authorise cryptocurrencies to be tracked through their platform solely. There’d also be the inclusion of investing & trading.
Investigative third parties that have explored the Terms and Conditions of Yummy Crypto have revealed that their disclaimers claim there isn’t any affiliation with CoinBase Incorporated. Moreover, that disclaimer states CoinBase isn’t responsible for any content or affiliated related to Yummy Crypto. This is CEO Corey Johnson’s method of safeguarding himself from charges of false advertising in America. However, disclaimers issued deep within your Terms & Conditions doesn’t legally constitute false advertising.
The Concerns
Sporting personnel in the state of Florida are concerned that FSU is placing their reputation behind Yummy Crypto, even under the mentality of generating income for their footballers. The case has typically been that Cryptocurrency Charities are scams. Moreover, Yummy Crypto isn’t fully vetted & doesn’t have an assortment of commonplace features associated with cryptocurrency investments. That includes lack of Pump/Dump Charts, Selling Prevention Measures, Token Burning, and License Identities. This concerning business operation of Yummy Crypto could affect Florida State University and three other sporting organisations. These include the South Florida Men’s Basketball Team, University of Miami Men’s Basketball Team, and Bareknuckle FC.