Celebrities face consequences for promoting shady crypto projects.
October 3, 2022
The US SEC charged Kim Kardashian for promoting EthereumMax on social media.
Kim is not the only celebrity with a history of promoting shady crypto projects.
In 2018, legendary boxer Floyd Mayweather was charged by the US SEC with pumping an initial coin.
Floyd Mayweather paid $600,000 in penalties without admitting or denying the regulator’s findings.
Mayweather had also promoted EthereumMax at a major bitcoin conference in Miami.
American media personality Paris Hilton had tweeted last year about a newly emerging coin called Lydian. Hilton has since deleted the tweet after warning by regulators.
Actor Steven Seagal became the brand ambassador for the cryptocurrency called “Bitcoiin.” The coin has since come under regulatory scrutiny.