Kim Kardashian was charged with promoting crypto security – Ethereum Max – by the US Securities and Exchange Commission.
As part of the settlement, the US media personality, model, and businesswoman agreed to pay $1.26 million.
- Floyd Mayweather and Kim Kardashian were sued in California in January this year for misleading investors by promoting cryptocurrency security called EthereumMax (EMAX).
- Kardashian will pay $1.26 million in penalties, disgorgement, and interest to the SEC for failing to disclose the payment she received for promoting the token, as announced on October 3.
- As the investigation continues, the TV personality will also cooperate with the agency. Kardashian received $250,000 for promoting the EMAX tokens on her Instagram page, which has over 330 million followers as of today.