The U.S. Securities and Exchange Commission filed charges against Kim Kardashian for enhancing cryptocurrency security – Ethereum Max.
- The famous American media personality, model and businesswoman agreed to pay $1.26 million to settle the charges.
- this year a lawsuit filed in California against Floyd Mayweather and Kim Kardashian, claiming they misled investors by promoting cryptocurrency security called EthereumMax (EMAX).
- On October 3, the SEC announced an agreement with Kardashian, where it will pay $1.26 million in fines, projections and interest for failing to disclose payments it received to promote the code.
- The TV personality will also cooperate with the agency as the investigation continues. According to UNHCR, Kardashian has received $250 to promote EMAX codes on its Instagram page, which so far has more than 330 million followers.
- SEC Chairman Gary Gensler commented:
“This case is a reminder that when celebrities or influencers support investment opportunities, including cryptocurrency securities, this does not mean that these investment products are suitable for all investors. We encourage investors to consider potential risks and opportunities for investment in the light of their financial objectives.