Kim Kardashian Settles SEC Charges with $1.26 Million Fine

Kim Kardashian agrees to pay the SEC a fine of a staggering $1.26 million dollars for failing to disclose that she had gotten paid (a quarter of a million to be exact) to advertise for EthereumMax (EMAX) on her personal Instagram. 

That wasn’t the only “fine” Kardashian was slapped with as she also agreed not to promote anything about crypto asset securities for the next 3 years. Kardashian has been very cooperative with the authorities although she wasn’t the only big name tied to EthereumMax. Floyd Mayweather Jr, Paul Pierce and the creators of token have also been sued by investors.

The case outlines that the individuals participated in a “pump and dump” by promoting the EMAX token. A “pump and dump” pertains to creators overinflating the prices and value of an asset before selling it to its investors.