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Crypto

Kardashian Fined $1.26M Over EthereumMax Promotion

Guavy AI Editorial Team
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The EthereumMax token was launched in May 2021 as an ERC-20 token on the Ethereum network, but it had no affiliation with the Ethereum Foundation or creator Vitalik Buterin.

Its founders recruited Kim Kardashian and Floyd Mayweather Jr. to promote the token, which gained notoriety through celebrity endorsements rather than technological innovation.

Kim Kardashian promoted EMAX to her 225 million Instagram followers in June 2021 for a $250,000 payment, but failed to disclose the payment to her audience, violating SEC regulations.

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