The price of a post: Kim Kardashian fined $1.26M for crypto promotion.
Beyond the glamorous headlines, global celebrity Kim Kardashian learned a hard lesson about the crypto market. In 2021, she used her massive platform to promote a little-known token, EthereumMax $ETH (EMAX), without revealing she was paid for the post.
The project quickly came under fire, with critics labeling it a pump-and-dump scheme that left investors with significant losses. The SEC took action in 2022, fining her $1.26 million for failing to disclose the paid endorsement.
The incident serves as a stark reminder: if a celebrity with a team of advisors can get caught in a crypto scandal, it highlights the need for extreme caution. The takeaway is clear—celebrity endorsements are not a substitute for due diligence. Always do your own research before investing.