Kim Kardashian Pays $1.26M Fine to SEC
Share this article
An editor at Coincrop
04 Oct 2022 | 2 min read
he reality star has come to an agreement with the SEC after being accused of not revealing that she was getting paid for recommending EthereumMax’s cryptocurrency token to her many social media followers.
Kim Kardashian has recently paid $1.26 million to the U.S. Securities and Exchange Commission to settle charges concerning her past promotion of the EthereumMax digital token.
The SEC charging Kimberly Kardashian for not revealing she was compensated $250,000 to advertise EthereumMax on social media. According to the SEC's release, she also is not allowed to endorse any cryptocurrencies for the next three years.
In a tweet, SEC Chairman Gary Gensler stated that "this case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors."
MikeAn editor at Coincrop
Mike is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely putting his latest car project back together.
CoinLoan combine the best of traditional and novel finance helping you borrow, swap and grow your assets.
Compare over 46,073 CeFi and DeFi products across more than 216 organizations here