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Centra (Token)

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Centra is an ERC-20 token created by Sam Sharma, Robert Farkas, and Raymond Trapani that was launched in August of 2017[1]​. Through private investors Centra was able to raise $32 million. In return their token would give investors access to a new virtual currency exchange and a virtual currency debit card that would operate on the Visa and Mastercard networks. Centra was famously promoted by DJ Khaled​ and Floyd Mayweather​ urging their fans to acquire CTR tokens.

On April 1st, Sam Sharma and Robert Farkas were arrested for a previous SEC complaint and additionally charged with conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud and wire fraud. Raymond Trapani has not been charged.[2]
 

Promoters

In a September 28th, 2017 through a press release from cryptonewsmonitor.com, president Sam Sharma said:

 

Centra is proud to announce our exclusive partnership with music mogul and media sensation ‘DJ Khaled’ of We The Best Music. This is yet another win for our company after very recently announcing our newest Brand Ambassador, Floyd Mayweather Jr. We are elated to have these two powerhouses added to the Centra team.

 

DJ Khaled posted on his Instagram

 

I just received my titanium centra debit card. The Centra Card & Centra Wallet app is the ultimate winner in Crpytocurrency debit cards powered by CTR tokens! Use your bitcoins, ethereum, and more cryptocurrencies in real time across the globe. This is a Game changer here. Get your CTR tokens now! #CryptoBilli #Bitcoin #Ethereum #Digitalcurrency[4]

 

This post has since been deleted.

 

Floyd Mayweather posted to his twitter regarding Centra twice

Centra's (CTR) ICO starts in a few hours. Get yours before they sell out, I got mine [3]

 

Spending bitcoins ethereum and other types of cryptocurrency in Beverly Hill [6]

 

A spokeswoman for the boxer Floyd Mayweather disputed Mr. Sharma and Mr. Trapani’s description of Centra’s relationship with him[5]​.

Fallout

After the fraud charges were announced, Binance delisted the token on April 5th, 3 days after the charges were announced. Several other exchanges delisted the token as well.[7]​ Currently the token is only traded on very low volume exchanges and has been considered near worthless since the fraud charges were announced.[8]

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Created: 05/14/2018 03:57:41 PM UTC
Last Modified: 05/14/2018 04:39:23 PM UTC