Kim Kardashian Cryptocurrency Charge: Why She Was Sued, Settlement

They’re one of the biggest earning celebrities on Instagram, but one Kardashian was recently hit with a hot water for not playing by the rules. Kim Kardashian has been accused of illegally promoting cryptocurrency on her Instagram account and has to pay a hefty penalty.

On October 3, 2022, the Securities and Exchange Commission (SEC) announced charges against the founder of SKIMS for “touting on a social network a crypto asset security powered by EthereumMax. and sold without disclosing the payment she received for advertising.” The SEC found that the aspiring attorney was paid $250,000 to promote the EMAX cryptocurrency token on her Instagram account with a link to the EthereumMax website, which provides instructions on how Potential investors can buy EMAX tokens. Kardashian paid a $1.26 million fine “without admitting or denying the SEC’s findings” and agreed not to advertise any crypto assets for three years.

kim kardashian


“Multiple Sclerosis. Kardashian is happy to have resolved this matter with the SEC,” Kim’s attorney told E! News. Anything she can to assist the SEC in this matter She wants to work this matter out behind her back to avoid a protracted controversy The agreement she reached with the SEC allows her to do that to she can move forward with her various business goals”.

“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it does not mean that products That investment is suitable for all investors,” said SEC Chairman Gary Gensler. “Multiple Sclerosis. The Kardashian case serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investments. in securities”.

$1.26 million might seem like a lot, but it’s just a drop of water for the Kardashian middle sister. She is said to be able to charge up to $850,000 for an Instagram post according to Instagram scheduling platform Hopper HQ and her net worth is estimated at $1.8 billion, according to Forbes. That makes her the richest of the Kardashian sisters. She founded KKW Beauty in 2017 following the success of Kylie Cosmetics by her sister Kylie Jenner. The business brought in $100 million in revenue in just one year. The Kardashian figure and the SKIMS sunglasses brand also bring in the big bucks, Forbes estimated to be worth $225 million “cautiously.” “Not bad for a girl with no talent,” Kardashian tweeted the day she did Forbes The World’s Billionaires List, in response to the criticism she’s received over the years.


Image: Library Books.

For more on the Kardashians, check out Kris Jenner’s 2011 memoir, Kris Jenner… And all things Kardashians, in which the mother tells the untold story of how she led her six children — Kourtney, Kim, Khloé, Rob, Kendall, and Kylie — to international stardom and built an empire worth thousands of dollars. their million dollars. You may think you know the Kardashians, but as Kris explains in her book, what’s in the media and Keeping up with the Kardashians just the tip of the iceberg. In Kris Jenner… And all things Kardashians, Kris reveals how she balances her six children (not to mention four stepchildren and lots of grandchildren) while building the family business. The book also delves into Kris’ relationship with Nicole Brown Simpson before and after her husband, OJ Simpson, was charged with murder. Kris Jenner… And all things Kardashians is a must-read for any Kardashian fan.


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