Kim Kardashian fined $1 million by SEC over crypto promotion

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The long list of celebrities promoting cryptocurrencies just got shorter. Kim Kardashian is being barred from doing so for three years — and will pay a $1 million fine -- to settle federal charges that she recommended a crypto security to her 330 million Instagram followers without making clear that she was paid to do so.

The reality TV star also must give up the $250,000 she was paid for the Instagram post about Ethereum Max tokens, plus interest, according to a Securities and Exchange Commission settlement announced Monday.

In 2018 the SEC settled charges against professional boxer Floyd Mayweather Jr. and music producer DJ Khaled for failing to disclose payments they received for promoting investments in a digital currency. Gensler also used Monday's attention-grabbing settlement with a celebrity as an opportunity to educate the public, releasing a humorous YouTube video that warns about the potential pitfalls of investment advice doled out by the rich and famous.

While Kardashian is well known for her role on the TV series “The Kardashians,” she is also a successful businesswoman with clothing and skincare brands.

 

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That's like $100 to us.

That's nothing, 1 million for a billionaire pls

Wonder if Pierre wood fanboy P. was paid to do the same?

I know her selfishness etc would catch up to her.

Why do they hate single mothers?

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