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Kim Kardashian posted an advertisement for the EthereumMax cryptocurrency on her blog in June last year, but problems have overtaken the star only now. The tokens depreciated quickly enough that buyers lost funds instead of earning as promised in Kim’s announcement. In this regard, the US Securities and Exchange Commission (SEC) ordered the star to pay $1.26 million for misleading advertising.
Note that for Kim herself, this is a ridiculous amount in comparison with her fortune, which is estimated at $ 1.8 billion.
This case is a reminder that celebrity and influencer endorsement of certain investments, including cryptocurrencies, does not mean that they are suitable for all investors, SEC officials said.
In addition, Kim withheld the amount of the fee for advertising placement. It amounted to about 250 thousand dollars. Note that earlier the commission has already fined stars for advertising cryptocurrency without disclosing the fee, for example, producer DJ Khaled and boxer Floyd Mayweather.
This is not the first time Kim Kardashian has been accused of online fraud. For example, in mid-September, her own fans sued her, demanding $ 40 million from the star. In her blog, together with Scott Disick, Kim organized a large-scale give, only she “forgot” to announce the winners, so the contestants were left with nothing and were very upset.
Source: Hellomagazine
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.