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T.I. Sued For $5 Million Over Alleged Cryptocurrency Scam

The rapper is accused of convincing investors to investing in a cryptocurrency. 

T.I. is in a bit of a legal jam. A group of 25 investors has reportedly filed a lawsuit against the ATL rapper for allegedly duping them with a cryptocurrency scam, TMZ reports.

According to reports, T.I. and ATL-based businessman Ryan Felton introduced the investors to FLiK Token in Aug. 2017. They allegedly convinced them to invest $1.3 million into the cryptocurrency with the promise they would receive more money in return. Felton claimed that one token of FLiK would start at six cents each, but it would eventually be worth $14.99 within 15 months. Assuming that he was right, that would mean an investment in one coin would mean a nearly 25,000 percent increase in value.

Unfortunately, that estimate was way too good to be true. The suit suggests T.I. and Felton boosted figures of the token by using the money that had already been given to them by investors.

That became more obvious by the following year, when the tokens were worth less than a penny. The value decrease was reportedly attributed to T.I. gifting "FLiK tokens to members of his family and friends who had sold massive amounts on coinexchange.com causing rapid devaluation," according to Felton.

To make matters worse, Felton is also accused of creating a new company that allegedly acquire FLiK Tokens, which was supposed to absolve him from the matter.

The investors are seeking at least $5 million in damages for the scam.

READ MORE: Akon Launches New Cryptocurrency Akoin

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Bryson Tiller Announces Deluxe Edition Of ‘Trapsoul’ Debut

Ahead of the release of his highly anticipated new album, Bryson Tiller is giving fans another chance to fall deeper in love with Trapsoul. The Grammy-nominated singer announced that he will be releasing a deluxe version of his debut album to streaming service this Friday (Sept. 25).

The deluxe edition will feature fan favorites “Just Another Interlude” and “Self Righteous,” Tiller tweeted on Tuesday (Sept. 22). “Before we get into my new album, I wanna celebrate with this special edition of my debut album, 'Trapsoul.' Featuring a few songs that didn’t quite make the cut.”

before we get into my new album, I wanna celebrate with this special edition of my debut album, Trapsoul. Featuring a few songs that didn’t quite make the cut. Y’all asked for these on All Platforms and they’ll finally be yours this Friday. thank you! pic.twitter.com/8MJ5rC5jYB

— tiller (@brysontiller) September 23, 2020

Released in 2015, Tiller’s debut album put him on the map, and earned a Billboard Music Awards nomination for Top R&B Album. The triple platinum release, lead single “Don’t” cracked the Top 20 on the Billboard singles charts becoming his highest charting solo effort to date.

Earlier in the month, Tiller released the music video for his song “Inhale” which samples Mary J. Blige’s “Not Gon' Cry.” The end of the video reveals that Tiller’s new album will drop sometime this fall.

Watch “Inhale” below.

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Judge Sides With Nicki Minaj In Tracy Chapman Court Battle

A judge has sided with Nicki Minaj in her legal dispute with Tracy Chapman. U.S. District Judge Virginia A. Phillips ruled that Minaj’s song “Sorry” falls under the “fair use” and not copyright infringement as Chapman claimed, Variety reports.

Minaj was reportedly unaware that her song, “Sorry,” featured lyrics and a bit of the melody from Chapman’s 1988 track, “Baby Can I Hold You” when it was recorded. She  reached out to Chapman to get permission to use the song but was ultimately turned down. Since she couldn't get legal clearance, the track never made it to the Queen album, but Chapman’s attorneys accused Minaj of leaking the track to Funkmaster Flex. Although Minaj confirmed sending Flex an Instagram message about the song, she denies actually sending it. “I had a change of heart,” she later testified. “I never sent the recording.”

Flex said that he obtained the recording from a “blogger,” not Minaj.

In her decision, Judge Phillips reportedly noted that artists tend to “experiment” with music before they attempt to get proper licensing.

“Artists usually experiment with works before seeking licenses from rights holders and rights holders typically ask to see a proposed work before approving a license,” the judge wrote. “A ruling uprooting these common practices would limit creativity and stifle innovation within the music industry.”

Despite the ruling, the question remains over whether or not Minaj should be held liable for the song being leaked. Last month, Minaj’s attorneys filed court papers requesting that Chapman’s motion for a summary judgment be denied in full.

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Big Sean Debuts ‘Deep Reverence’ Feat. Nipsey Hussle

Big Sean delivered his collaboration with Nipsey Hustle “Deep Reverence” on Monday (Aug. 24). The 32-year-old rapper decided to drop the song after  finishing up his highly anticipated Detroit 2 album due out next week.

“My heart and my gut was saying not only do people deserve that song right now,”  Sean tweeted on Tuesday (Aug. 25). “I felt like hearing nips [sic] voice, his presence and the energy of the song itself was needed and deserved it’s own moment!”

A snippet of the song debuted during Hit-Boy and Boi1da's Verzuz battle in April. Sean said that he has wanted to release the song ever since then.

“My label (a few people there, not the whole label) thought it wasn’t smart to put this song out ahead of my album, they told my team I should hold on to it...they still supported my decision in the end tho [sic],” he explained in another tweet.

The record opens with a clever and poignant verse from Nipsey. “F*ck rap I’m a street legend, block love me with a deep reverence,” he raps. “I was birthed in a C-section/Hella cops and police presence, we got opps so we keep weapons. We on y’all block while y’all eat breakfast. A lot of shots, we broke street records. Watch how you talk, I got reflexes.”

 

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Rest In Power bro! The World miss you n need to hear your voice! DEEP REVERENCE OUT NOW 🏁💙🙏🏾 Prod by. @hitboy & @g.ryomo

A post shared by BIGSEAN (@bigsean) on Aug 24, 2020 at 9:07pm PDT

On Sean’s verse, he reveals that he reached out to Kendrick Lamar after Nipsey was killed and addresses the alleged beef between him and the Compton MC. Fans also believe that he hinted at  Jhené Aiko suffering a miscarriage. “Should be a billionaire based on the time off I’m not takin,’” raps Sean. “Probably why the sh*t with me got crazy and we lost a baby.”

Detroit 2 is executive produced by Hit-Boy, Sean and Kanye West. The album drops on Sept. 4.

Listen to “Deep Reverence” below.

 

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My fifth album #Detroit2 September 4th 🌎✊🏾🌹🖤 🌟 🙏🏾

A post shared by BIGSEAN (@bigsean) on Aug 24, 2020 at 11:15am PDT

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