Crypto News

Kim Kardashian Shilled “EthereumMax” But The SEC Won’t Be Happy

Kim Kardashian shilled “EthereumMax” on her Instagram profile, tipping her followers to check out this platform and she is not the only celebrity that did it. But let’s first read more in our latest cryptocurrency news.

Celebrity Influencer Kim Kardashian shilled “EthereumMax” on her Instagram profile and her online media and social media presence is not to be underestimated. Her fan base counts 228 million followers on Instagram and about 70 million on Twitter. Kardashian’s story started with “Are You guys into Crypto????” followed by a disclaimer that she is not sharing legal or investment advice. He was supposedly only sharing a hot tip from her friends:

“A few minutes ago EthereumMax burned 400 trillion tokens – literally 50% of their admin wallet giving back to the entire E-Max community.”

At the end after a few hashtags included in the story, Kardashian included an AD hashtag that stands for advertisement which encouraged her followers to swipe up and join the E-Max community. Kardashian is not the first celebrity to endorse ERC20 tokens that were launched recently but this one is trading at $0.0000001662. EthereumMax has a celebrity PR campaign since it was “ the 1st Crypto Coin ever accepted to purchase tickets at a major fight for the highly anticipated Floyd Mayweather vs Logan Paul PPV event on June 6th, so Kardashian is the first or last celebrity that gave it a go talking about the project.

It is safe to say that at least 228 million people heard about the EthereumMax project but what would the US Securities and Exchange Commission going to say about it?

Also as reported previously, The prosecutors and the Feds demand that Centra Tech co-founder Robert Farkas needs to serve “substantial prison time.” Farkas, co-founded Centra Tech with Sohrab Sharma and Raymond Trapani, and he has already pleaded guilty to defrauding investors out of millions of dollars. DJ Khaled and Floyd Mayweather were paid to promote Centra’s fraudulent ICO as they settled charges with the SEC in 2018.

Sharma pleaded guilty to counts of conspiracy to commit wire fraud and securities fraud as well as conspiracy to commit mail fraud so Trapani pleaded guilty to related charges. Each charge carried a maximum sentence of five years in prison. DJ Khaled and Floyd Mayweather were among the early backers of Centra Tech’s initiative and paid a huge price for it. The SEC alleged that Centra paid Mayweather $100,000 to promote the ICO and paid Khaled $50,000. Both of the celebrities settled charges for failing to disclose the payments.

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