This will COST Kim Kardashian MILLIONS!
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Kim Kardashian advertised a cryptocurrency called EthereumMax on her Instagram page, and now she has to pay a HUGE fine.
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The SEC fined Kim for not disclosing the promotion's advertising costs.
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Kim Kardashian received $250,000 in advertising revenue from EthereumMax and is obligated to pay the SEC $1.2 MILLION.
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Kim's representatives said she cooperated with the SEC and is relieved to have resolved the problem.
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EthereumMax is not the same as Ethereum, which is a well-known cryptocurrency. In January, investors sued EthereumMax.
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Investors suspected EthereumMax used Kim and others to artificially inflate prices before selling.
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Cryptocurrency is still a highly unregulated market, and celebrities like the Kardashians join a long list of people punished for promoting them.
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According to the SEC, celebrities must disclose the cost of sponsorships.
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Elon Musk’s CRYPTICAL Messages with Twitter are SHOCKING!
GO CHECK OUT NOW!
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