The Million Dollar Case

The Million Dollar Case

Representatives of the U.S. Securities and Exchange Commission accused Kim Kardashian of illegal advertising of digital assets.

We are talking about the EthereumMax token, which Kim mentioned in her Instagram. She received $250 thousand for this, without disclosing the fact of receiving money for the actual advertising.

In response, Kim neither acknowledged nor denied the Commission’s findings, but agreed to pay $1.26 million. The payment amount consists of approximately $260 thousand of total advertising revenue and a fine of $1 million. The star also pledged not to advertise crypto assets for three years.

The publication turned out to be expensive in the end. And even the note “This is not a financial recommendation” did not save Kim.

The case against Kim Kardashian was also commented on by the head of the US Securities and Exchange Commission, Gary Gensler.
Here is his quote:
“This situation is a reminder that even if celebrities and influencers support certain investment proposals for the type of crypto assets, this does not mean that such investment products are suitable for everyone.”