Summary
- Circle's USDC account made a lighthearted post on X welcoming DJ Khaled to "team USDC."
- Crypto Twitter reacted negatively, citing Khaled's controversial past with crypto promotions.
- Circle is Chelsea FC's shirt sponsor, while Khaled's involvement is tied to a Roc Nation partnership with the club.
Circle, the company behind the USDC stablecoin, recently welcomed DJ Khaled to their "team USDC" in a post on X, which ignited a wave of backlash on Crypto Twitter. However, the situation may not be as it appears.
The USDC account on X shared an image of DJ Khaled donning a Chelsea jersey with the phrase "USDC by Circle" emblazoned across it, captioned with his famous catchphrase "Another one." Circle's CEO Jeremy Allaire later reposted the image with a welcoming message directed at Khaled.
Neither post explicitly mentions a sponsorship or ambassadorial role, leading many to view it as a playful acknowledgment. Circle is the official front-of-shirt sponsor for Chelsea FC, and Khaled's connection comes from a separate Roc Nation deal announced in May.
Despite the absence of a formal sponsorship, Crypto Twitter expressed disapproval due to DJ Khaled's problematic history in the crypto space. Joseph Schiarizzi commented, urging Circle not to associate with someone like Khaled, who has faced penalties from the SEC for failing to disclose payments linked to his crypto promotions.
@djkhaled welcome to team @USDC https://t.co/O5z2JR3jGn
ā Jeremy Allaire (@jerallaire) October 5, 2026
Schiarizzi alluded to Khaled's involvement with the defunct Centra ICO, which resulted in significant legal trouble for the founders and led Khaled to pay over $150,000 in fines to the SEC for not disclosing his promotional deal.
This context led to speculation that Khaled might be receiving compensation for promoting USDC, raising concerns about transparency. Crypto Twitter's outrage reflects the lingering memories of past controversies.
In a sarcastic response, a user suggested that Circle should consider sponsoring Kim Kardashian, referencing her own SEC troubles for promoting EthereumMax without proper disclosure.
I think you should sponsor Kim Kardashian she has been an outspoken advocate for the use of stablecoins for cross border payments, lines up perfectly with the brand message you're trying to pass
ā Wazz (@WazzCrypto) October 6, 2026
Taylor Monahan, a former Metamask executive, criticized Circle for engaging with Khaled, emphasizing the severity of the allegations surrounding his prior endorsements of fraudulent ICOs.
Circle really hired the guy who was charged with promoting one of the only ICO scams that was so stupid, so blatantly fraudulent, so criminal that it was written up in NYTimes and then promptly prosecuted by DOJ *and* SEC???????https://t.co/a7rAMIU5WU https://t.co/nMz60TK50R
ā Tay š (@tayvano_) October 6, 2026
It is important to clarify that the SEC and DOJ did not charge Khaled with fraud; the case revolved around his failure to disclose a payment. Back in September 2017, Khaled had a substantial following on Instagram when he promoted Centra's ICO, which was later exposed as fraudulent. He received $50,000 for this promotion from Centra without informing his followers of the paid nature of the endorsement.
The Centra ICO was notorious for its deceptive practices, with the founders eventually facing criminal charges. Khaled settled with the SEC and agreed to refrain from promoting securities for two years, a period that ended in late 2020, allowing him to engage with crypto companies again.