SEC gets $1.26 million in penalties --Crypto Scheme

[Graybeard]

Another Cryptocurrency pump and dump scheme.

Kim Kardashian, Floyd Mayweather, Paul Pierce Sued Over Ethereum Max Promotion - Decrypt

An Ethereum Max investor says he was unduly influenced by influencer Kim Kardashian, boxer Floyd Mayweather, and NBA legend Paul Pierce.

decrypt.co

This incident highlights the dangers of celebrity endorsements of cryptocurrency projects. Without adequate disclosure, these endorsements can mislead the public and create false expectations about the potential of a project.

The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation.

SEC.gov | SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security

www.sec.gov

"There's a sucker born every minute"

 

[T J Tutor]

Yeah, it's all over the news today. It's just another disclosure requirement. Disclosures have been there for this for a while, but only in the last couple fo years are they going after the influencers and celebs. Especially when it comes to securities.