Kim Kardashian had a run-in with the Securities and Exchange Commission. On Monday, Kardashian was charged with promoting the cryptocurrency EthereumMax on Instagram without disclosing the company was paying her. In a statement, the SEC said Kim settled the charges, paid $1.26 million, and agreed to cooperate with the agency’s investigation. She also agreed not to promote any crypto assets for three years.
Today @SECGov, we charged Kim Kardashian for unlawfully touting a crypto security.
This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn’t mean those investment products are right for all investors.
— Gary Gensler (@GaryGensler) October 3, 2022
