The U.S. Securities and Exchange Commission charged reality television star Kim Kardashian Monday for unlawfully touting the crypto security EthereumMax, the agency said in a statement.
Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, it said.
The SEC’s order finds that Kardashian failed to disclose that she was paid $250,000 to publish a post on her Instagram account about EMAX tokens, the crypto asset security being offered by EthereumMax. Kardashian’s post contained a link to the EthereumMax website, which provided instructions for potential investors to purchase EMAX tokens.
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