Kim K Crypto Fine
Kim Kardashian paid the SEC $1.26 Million.
Unlawfully touting a crypto security.
1. When you are famous, everyone is watching you, including the government.
You better make sure you have no skeletons in your closet and you do everything by the book.
2. Is crypto a financial security that falls under the regulatory umbrella of the SEC?
The government thinks so.
3. Federal securities law prohibits people from promoting crypto without disclosing it.
4. She was paid $250,000 by EthereumMax
To publish one story about its EMAX tokens.
5. Sharing what my friends just told me…
She did not disclose she was being paid to promote the crypto.
6. EMAX tokens have lost 98% of value
Investors have sued to get back lost investments.
7. Kim K started a private equity fund
I’m sure she has been looking to invest into crypto. Along with many other private businesses.
She paid the fine, because she did not want to deal with headache of the SEC. She could have challenged the complaint. But she has other businesses that she is creating and building.