Reddit Posts
EMAX investors given third and final chance at celeb promo suit
Crypto and Boxers - Not an Easy Relationship - Logan Paul vs Floyd Mayweather
Why doesn’t the SEC arrest and criminally charge bad actors in crypto?
Kim K and Mayweather Return to Court in Fraudulent EMAX Promotion Case
EMAX class action against Kim K and Mayweather is back on, says judge
Who Has Endorsed Cryptocurrencies and NFTs..
Kim Kardashian, Floyd Mayweather Urged Court to Drop the EMAX Lawsuit
Kim Kardashian, Floyd Mayweather file motion to dismiss crypto promotion lawsuit
NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens
2022's 13 Biggest Crypto Scandals & Controversial Stories
Kim Kardashian & Mayweather might win the SEC case. A district judge ruled in a tentative court. This shows neglect on part of the prosecuting team and how broken the system is and that people should stop paying attention to these "fraud/celebs".
Helping newer people: Identifying social media "influencers" (read: scammers) that should be avoided
SEC just explained how to advertise Crypto on Social Network correctly
EMAX Crypto Has Lost 95% of Its Value Since Kim Kardashian Promoted It
Kim Kardashian to pay SEC $1.26M for promoting EMAX security token
EthereumMax is the definition of a shitcoin, the epitome of scam, peak useless shitcoin if there ever was one.
SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security
SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security
Words Associated with Cryptocurrency during the last 2 months
Kim K. and Mayweather are being sued for pumping EMAX last year. How was this ever allowed to happen?
Scam? Kim Kardashian and Floyd Mayweather sued for crypto promo
Shitcoins/Memecoins that got shilled by Celebrities and Billionaires claiming to be the "Next Big Thing" almost each one of them is currently down 70-100% from their ATH.
'Crypto Critic' — Hollywood insider has a message for celebrities who shill token projects.
What is going on with EMAX in CoinTracker? It’s been like this for 24 hours.
Mentions
Kanye. Can I suggest TMAX? TrumpMax. (In reference to the 2021 scam EMAX EthereumMax in case no one remembers that glorious scam.)
EMAX was the first crypto I ever bought. Doubled my $500 then watched it turn into $.00003. Welcome to crypto lol
Where all my EMAX investors at? One of the worst mistakes I made was buying some EMAX. I should have known it'd be a rugpull when I saw a Kardashian promoting it. It was only $50 but man it hurt like $5000.
EMAX - Embarrassed by this, but there you go.
tldr; The EthereumMax (EMAX) investor class action lawsuit against celebrities accused of promoting the cryptocurrency has been given a final chance to amend their claims. The lawsuit alleges that celebrities like Floyd Mayweather, Paul Pierce, and Kim Kardashian promoted EMAX as part of a "pump and dump" scheme. The judge denied some motions to dismiss the claims, stating that the plaintiffs sufficiently alleged materiality and failure to disclose paid promotion. The plaintiffs must re-file the complaint, and the defendants must answer the remaining claims. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
For me the problem was listening to influencers. Luckily tho I only lost about $50 in EMAX and I almost got caught on the WAGMI train.
Justin Sun, of Tron Foundation Limited, BitTorrent Nishad Singh, the former Co-Lead Engineer of FTX Caroline Ellison, of FTX Zixiao (Gary) Wang, of FTX Samuel Bankman-Fried, of FTX Do Hyeong Kwon, Terraform Labs Changpeng Zhao, Binance Richard J. Schueler a/k/a Richard Heart, Hex, PulseChain, and PulseX John McAfee Steven Seagal Floyd Mayweather, Jr Khaled Khaled ("DJ Khaled") Paul Pierce, NBA for touting EMAX tokens Kim Kardashian, for touting EMAX tokens First half of the lists are just smart assholes criminals. Second half of list are stupid assholes criminals.
EMAX really hurt alot of investors. I hope justice is properly served on these greedy m-fers.
tldr; A class action lawsuit against Kim Kardashian and Floyd Mayweather for their promotion of the now-defunct crypto token EthereumMax (EMAX) is back on, according to a US district judge. The lawsuit alleges that the celebrities were involved in a "pump and dump" scheme and profited from endorsements at their fans' expense. The judge refused to throw out the plaintiff's "unfair competition" claims against Kardashian and Mayweather, stating that hyping a crypto token without disclosing payment is an "unscrupulous and thereby unfair practice." The lawsuit seeks damages for investors who bought the token following the celebrity endorsements. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
“US District Judge rejected arguments by Kim Kardashian’s lawyers that the judge should dismiss false advertising claims over her touting EMAX tokens” Yeah, It’s a bit twisty. I take it as the case continues. He rejected the motion from her lawyers to dismiss the case.
Whats EMAX? its not one I'm familiar with
I'd say EMAX. The sub still gets a shill posted there from time to time and immediately receives a barrage of downvotes. At least most people realized what was going on and aren't falling for it again.
I have a little EMAX and WSB dapp
Im curious how much did Kim K get sued for. That whole EMAX thing.
FEGtoken and EMAX fuck em both Feg failed because the devs we’re too cocky and said nobody can hack they’re ecosystem. It was hack literally two days later. Then devs gave up and “migrated” they’re tokens to and updated Fegtoken. A respectful way to put the rug pull. Everybody knows the story of EMAX Good news though is I hold some actual alt coins, couple of hundred in btc, 1.5 eth and a good bit of shib since I was an early adopter (late 2020) All on my ledger
tldr; The defendants involved in the EMAX lawsuit are seeking to dismiss the latest charges brought against them. They argue that the new allegations do not differ from those in the previously dismissed case that claimed they promoted EMAX to artificially increase its value causing investors to buy the token at an inflated price. Last week, the SEC announced that it filed charges against NBA legend Paul Pierce. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
I assume that the fine they’ll pay won’t go to the people that invested in EMAX and probably lost their money
tldr; Kim Kardashian, Floyd Mayweather, Paul Pierce, Jona Rechnitz, and Giovanni Perone have asked a federal judge to dismiss their EMAX lawsuit against them. The lawsuit alleged that the celebrities promoted EMAX to inflate its price and later sold it for profit. The defendants claimed the new case does not differ from the one a judge dismissed last year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; Kim Kardashian, Floyd Mayweather and other celebrities are looking to convince a judge to dismiss another revised attempt to hold them liable for promoting EthereumMax (EMAX) without proper disclosure. The investors' class action lawsuit runs on the premise that the EthereumMax team worked with the celebrities to sell EMAX tokens to investors in what they describe as a "pump-and-dump" scheme. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
>the defendants' motion to dismiss the renewed complaint argues that the theory revolving around celebrities advertising the EMAX tokens to pump its price artificially was already rejected by the court since the tokens do not have any value apart from what the market is willing to pay for. Wat? “The token I was paid to promote has no intrinsic use or value, therefore I cannot have participated in a pump and dump”
tldr; The Securities and Exchange Commission has fined former NBA star Paul Pierce $1.4 million for failing to disclose that he was paid to endorse ethereumMax (EMAX) on Twitter. The SEC said Pierce failed to disclose more than $244,000 worth in EMAX to promote the currency. Pierce agreed not to promote crypto assets for at least three years. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; US Securities and Exchange Commission (SEC) has charged ex-NBA player Paul Pierce with violating anti-fraud and anti-touting rules by promoting a cryptocurrency on his social media account without disclosing that he was paid to do so. Pierce earned more than $244,000 in EMAX to push the tokens on his Twitter account, the SEC said. Pierce agreed to settle the charges by paying $1.4 million in penalties, disgorgement and interest "without admitting or denying the SEC's findings". *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; A former NBA player named Paul Pierce has reached a settlement with the US Securities and Exchange Commission in the amount of $1.4 million on allegations that he promoted a cryptocurrency token project on social media. Pierce is accused of promoting EMAX tokens without revealing that he had received money for the promotion and of making "false and misleading representations" about the project. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
"Pierce touted on social media EMAX tokens sold by EthereumMax without disclosing he was paid $244,000 worth of tokens to do so." That's a nay nay!
tldr; The US Securities and Exchange Commission has fined NBA Hall of Famer Paul Pierce $1.4 million for touting a cryptocurrency token. Pierce touted on social media EMAX tokens sold by EthereumMax without disclosing he was paid $244,000 worth of tokens to do so. Pierce also agreed to not promote crypto securities for three years. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; The Securities and Exchange Commission has charged NBA Hall of Famer Paul Pierce with making false misleading promotional statements about the crypto token, EthereumMax. Pierce didn't disclose a payment of more than $244,000 of EMAX. Pierce has agreed to pay a $1.1 million penalty and approximately $240,000 in disgorgement. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; NBA Hall of Famer Paul Pierce has reached a settlement with the Securities and Exchange Commission after it charged him with unlawfully touting crypto securities. The commission alleged he promoted EthereumMax tokens on Twitter without disclosing he was paid more than $244,000 in EMAX tokens for the promotion. Pierce did not admit or deny any wrongdoing. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
Tldr- NBA Hall of Famer Paul “The Truth” Pierce agreed to pay $1.4 million to settle charges from the Securities and Exchange Commission over a cryptocurrency he promoted on Twitter. The SEC charged Pierce with making false and misleading promotional statements about EthereumMax (EMAX) and failing to disclose the $244,000 payment in tokens he received for plugging it on social media. Always good to hear when scammers are forced to pay their dues.
"Pierce with making false and misleading promotional statements about EthereumMax (EMAX) and failing to disclose the $244,000 payment in tokens he received for plugging it on social media." yall need to read the articles
tldr; The Securities and Exchange Commission has charged former NBA player Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. Pierce agreed to settle the charges and pay the SEC $1.409 million in penalties, disgorgement, and interest. The case is "yet another reminder to celebrities," SEC Chair Gary Gensler said. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; The US Securities and Exchange Commission has announced a $1.4-million settlement with former NBA player Paul Pierce for allegedly promoting a token project on social media. The SEC said Pierce touted EMAX tokens through social media channels without disclosing he had received payment for the promotion and made "false and misleading statements" regarding the project. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
Yes >In Oct. 2022, socialite Kim Kardashian was charged with unlawfully promoting the crypto asset EMAX. At the time, Kardashian also settled with the SEC for $1.26 million in penalties.
Settled for $1,409,000 >The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the SEC $1.409 million. >According to the SEC complaint, Pierce “failed to disclose that he was paid more than $244,000 worth of EMAX tokens to promote the tokens on Twitter.”
tldr; The US Securities and Exchange Commission has fined ex-NBA star Paul Pierce $1.4 million for failing to disclose he received over $244,000 in EtherumMax (EMAX) to promote the asset on Twitter. EMAX is a token that runs on Ethereum, the blockchain behind the world's second biggest cryptocurrency. Pierce also agreed to not promote any digital asset securities *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
tldr; NBA Hall of Famer Paul Pierce has agreed to settle with the Securities and Exchange Commission for $1.4 million over allegations that he unlawfully touted crypto securities, the regulator announced on Friday. Pierce promoted EthereumMax tokens on Twitter while failing to disclose that he was paid for his promotion with EMAX tokens worth over $244,000, the SEC alleged. Pierce is also barred from promoting any crypto asset securities for three years. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*
Looks like he was caught up in that EthereumMax mess... Somehow thye convinced a bunch of celebrities to get behind that mess "Pierce promoted EthereumMax tokens on Twitter while failing to disclose that he was paid for his promotion with EMAX tokens worth over $244,000, the SEC alleged. Pierce did not admit or deny wrongdoing as part of the settlement and will pay a $1.1 million penalty and disgorge “approximately $240,000,” the SEC said. Pierce is also barred from promoting any crypto asset securities for three years"
tldr; Madonna sang the praises of nonfungible tokens, or NFTs, depicting cartoon portraits of bored apes. Tampa Bay Buccaneers quarterback Tom Brady appeared in commercials endorsing crypto exchange FTX, which collapsed suddenly in November. And Kim Kardashian gushed about EMAX tokens on Instagram. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Kim Kardashian gushed about EMAX tokens on Instagram. Okayyy
Scammboxing matches, scam Pokémon cards, fake videos, fake wrestling, EMAX scam, CryptoZoo scam. Does he do anything besides lie, steal and cheat others? Stop paying attention to these scammers or they will just multiply.
tldr; A class action lawsuit that alleges celebrities fraudulently promoted an ETH-based decentralized finance (DeFi) altcoin to investors is being thrown out. The lawsuit claims Kim Kardashian and Floyd Mayweather Jr. persuaded investors to purchase EMAX using their fame. The defendants claim they only bought EMAX because of the celebrities’ endorsements. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A US federal judge has dismissed a class action lawsuit against celebrities, including Kim Kardashian, for promoting the cryptocurrency EMAX. Earlier this year, investors filed the lawsuit against the cryptocurrency’s founders as well as celebrities that had endorsed it. The lawsuit claimed that the celebrities had fooled investors into purchasing the crypto at an inflated price. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The Central District Court of California dismissed the lawsuit against Kim Kardashian and Floyd Mayweather. The lawsuit claimed the celebrities used their popularity to inflate the EMAX token's price by promoting it on social media. Kardashian agreed to pay $1.26 million to settle the charges in October. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A federal judge in California has dismissed a class action suit against Kim Kardashian, Floyd Mayweather, and others for promoting the cryptocurrency EMAX. Plaintiffs' lawyers argued that the celebrities colluded with the crypto project's co-founders to pump the tokens' price. The lawsuit was first filed in January. The plaintiffs can refile with amended claims. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Mayweather promoted the EMAX tokens at a boxing match and at a Bitcoin conference in June 2021. The value of the EMAX tokens rocketed in 2021 - but by January, they had lost 97% of their value. In addition to Kardashian, Mayweather and former Boston Celtics star Paul Pierce, the defendants in the case included Steve Gentile and Giovanni Perone, the co-founders of EthereumMax, and Justin French, a consultant and developer for the cryptocurrency. The judge's ruling said: "This action demonstrates that just about anyone with the technical skills and/or connections can mint a new currency and create their own digital market overnight.
tldr; An investor-led class action lawsuit against Kim Kardashian and Floyd Mayweather Jr. over their social media promotion of the cryptocurrency was dismissed by a federal judge on Wednesday. Investors who purchased EMAX tokens claimed they had lost money after believing the celebrity influencers about the value of cryptocurrencies. The judge ruled that the plaintiffs’ claims were not sufficiently supported. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A federal judge has dismissed a proposed class action lawsuit by investors against the founders of the cryptocurrency EthereumMax, as well as celebrity endorsers including Kim Kardashian and Floyd Mayweather Jr. over their promotion of the crypto on social media. Investors alleged they had suffered losses after taking the word of the celebrity influencers about the value of the EMAX tokens. The suit claims the defendants engaged in a conspiracy to artificially inflate the value *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Kim Kardashian and Floyd Mayweather Jr. have won a tentative court ruling in a class-action lawsuit involving the Ethereummax token. The lawsuit alleges that the celebrities scammed investors by hyping the EMAX token, causing investors to have to buy EMAX at inflated prices. The plaintiffs detailed that the token's price surged 1,370% soon after its launch. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Kim Kardashian and Floyd Mayweather Jr. have won a tentative court ruling in a class-action lawsuit involving the Ethereummax token. The lawsuit alleges that the celebrities scammed investors by hyping the EMAX token, causing investors to have to buy EMAX at inflated prices. The plaintiffs detailed that the token's price surged 1,370% soon after its launch. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Kim Kardashian and boxer Floyd Mayweather have won a lawsuit accusing them of scamming EMAX investors. The SEC accused Kardashian of failing to disclose that she had been paid $250,000 to post about tokens on Instagram. Kardashian paid $1.26 million to settle allegations that she broke the U.S. rules by touting EMAX tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A judge will dismiss a lawsuit against Kim Kardashian and other celebrities, including Floyd Mayweather Jr. and Paul Pierce, accusing them of misleading investors over EthMax. Kardashian was fined $1.26 million by the SEC last month for failing to disclose the payment she received for endorsing EMAX. Other celebrities have also lost millions to cryptocurrencies, however mostly through investments. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
>He said that despite “trying to act like” the Securities and Exchange Commission (SEC), the prosecution’s argument lacks consistency with the authority’s approach. \[...\] **the prosecution did not argue that the EthMAX (EMAX) tokens were securities. They also neglected to invoke a standard securities fraud claim in their case**. What a bad joke
tldr; Reality TV star Kim Kardashian has agreed to pay $1.26 million to settle charges that she broke SEC regulations by promoting a cryptocurrency token on social media without disclosing to her fans that she was being paid to do so. Kardashian received $250,000 for her Instagram posts concerning EMAX coins. She also consented to stop promoting cryptocurrency for three years. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
He gets what he deserves! He made millions off of pumping EMAX for his fight with Mayweather. Then he dumped it and has never spoken about it again. Dudes a scammer!
tldr; Reality TV star Kim Kardashian has agreed to pay $1.26 million as fees and penalties to settle charges levelled by the US' Securities and Exchange Commission (SEC) for touting a crypto asset, offered and sold by EthereumMax, through her social media account without disclosing the payment she received for its promotion. Kardashian did not disclose that she received $250,000 for promoting EMAX tokens, offered by the crypto-coin. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> Kardashian did not disclose that she received $250,000 for promoting EMAX tokens That’s why.
**td;dr** Kim Kardashian made headlines when the Securities and Exchange Commission publicized a fine and settlement with her for allegedly failing to disclose earnings related to her promotion of the EMAX token. While the settlement ends her case with the government, it may complicate a class action lawsuit that seeks damages from Kardashian, fellow celebrity endorsers, and executives of the company that created the project, EthereumMax. Pierce, the former NBA all-star, tweeted about the coin a handful of times, telling followers “I’m n for the long haul” while Mayweather fought an exhibition match against YouTuber turned boxer Logan Paul that sold tickets for EMAX. Still, plaintiffs in the case are likely to attempt to amend their case to include the recent Kardashian settlement.
The SEC going after EMAX as a security is really interesting. Opens up a whole can of worms.
In addition to lots of buzz words, the white paper of Ethereum Max says that "EMAX owners get “special access” to “the hottest restaurants and clubs,". I'm not sure how that wasn't a red flag to more people tbh
"Peter Schiff criticized the SEC for failing to fine MicroStrategy Chairman Michael Saylor while fining Kardashian." Fuck off Schiff, don't compare EMAX to BTC. Gus Fring meme vibes
tldr; Ethereummax (EMAX) saw a brief spike on Monday after the SEC charges against Kim Kardashian were released to the general public. However, the EMAX pump was followed by a massive dump as the cryptocurrency slid 47% lower than the high it reached on October 3. EMAX is trading today for 99.1% less than the token's all-time high recorded on May 31, 2021. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Kim Kardashian has been fined $1.26 million (£1.1 million) by the US Securities and Exchange Commission for failing to disclose that she was paid $250,000 (£222,000) to post an Instagram about crypto asset security EMAX tokens. Kim's offending post, which was published in June 2021, had included a video of her saying she was making a ‘big announcement’. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
TLDR; The SEC’s order finds that Kim failed to announce 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. The businesswoman has agreed to settle the charges and will pay $1.26million (£1.1million) in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation.
tldr; EthereumMax and the EMAX token won investors over with big promises and flashy names. But has it delivered? *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Absolutely, they even state the allegation at the beginning: > The SEC alleged that Kardashian failed to disclose a $250,000 payment to publish a post on her Instagram account promoting EthereumMax's crypto asset security EMAX tokens. This is nothing like what Jason Bourne was doing.
>In the 16 months since her post, EMAX has dropped 95.3%. Which means that if you invested $100 after Kardashian promoted the token, your investment would only be worth about $5 today.
Matt Levines take: I suppose there are some people — there might be one person — maybe there isn’t, I don’t know — whose social media consumption is mainly: Kim Kardashian’s Instagram, and US Securities and Exchange Commission Chair Gary Gensler’s YouTube channel. Like, sure, why not. You like Kim Kardashian, but you also want to keep up on the latest trends in securities enforcement. If this is you, then last June you will have gotten Kim Kardashian’s Instagram story promoting EthereumMax, a piece of absolute crypto nonsense that is now trading at $0.000000004229. And then today you will have seen Gensler's YouTube video that “cautions investors not to make investment decisions based solely on the recommendations of a celebrity or influencer.” “Ah well,” you will say to yourself, “shame I put my life savings into EthereumMax on Kim Kardashian’s recommendation, but at least now I know not to do it again.” The system worked, for you, though with a delay that turned out to be pretty material. (The time to warn you not to buy crypto based on Kim Kardashian’s touting was before she touted crypto.) But you’re an unusual case. Kardashian has 331 million Instagram followers. As of 9:30 a.m. today that Gensler video had fewer than 1,000 views. There is a reason that she can get paid $250,000 per post to promote the purest possible crypto nonsense, despite the SEC’s counter-programming. Anyway: The Securities and Exchange Commission today announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation. 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. "This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors," said SEC Chair Gary Gensler. "We encourage investors to consider an investment’s potential risks and opportunities in light of their own financial goals." I would have been stronger there? I do not give investing advice around here, but a reasonable rule of thumb is “when celebrities or influencers endorse investment opportunities, especially crypto asset securities, that definitely means that those investment products are wrong for all investors”? Like, who was EthereumMax right for? Also, when celebrities and influencers endorse a crypto thing you’ve never heard of, it definitely means they got paid to do it? Honestly if you get an Instagram post from an influencer promoting a crypto thing and not disclosing that she was paid for it, the investment opportunity is to send a whistleblower letter to the SEC. Maybe they’ll pay you for pointing it out.
tldr; US Securities and Exchange Commission Chairman Gary Gensler has clarified the rules governing influencers promoting crypto online. Kim Kardashian was fined $1.26 million for failing to disclose the $250,000 she was paid to promote a cryptocurrency called EMAX. The SEC said it's unlawful to publicize a security by any means without disclosing the “consideration received or to be received” *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; American celebrity Kim Kardashian has agreed to pay $1.26 million to the US Securities and Exchange Commission (SEC) in settlement of claims that she promoted the sale of unregistered securities token EMAX. Kardashian was paid $250,000 by EMAX to promote the EMAX token to her Instagram followers (now over 330 million). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
What makes EMAX tokens a security
> The SEC on Monday said Kardashian failed to report that she was paid $250,000 to publish a post about EMAX tokens, a crypto asset offered by EthereumMax. > Her failure to disclose the payment was a violation of federal securities laws, the SEC said. She agreed to pay $260,000, which includes the payment she received, plus interest, in addition to the $1 million penalty Looks like she was fined because she didn't report that it was a promotion for which she got paid, not because it was a scam lol
This one is so strange for me, friends of friends were developers of this project, my friends all had like 3 trillion tokens, we're playing Warzone with the EMAX clan tag... All convinced it could go to $1 or something but it just went down week after week
The sec does more stuff also, they aren't 24/7 labelling everything as security: _The SEC on Monday said Kardashian failed to report that she was paid $250,000 to publish a post about EMAX tokens, a crypto asset offered by EthereumMax. [...] Her failure to disclose the payment was a violation of federal securities laws, the SEC said. _ If every influencer and youtuber was forced to say how much they ve been paid this market would be more healthy
Buying into EMAX. 🤦♂️ I must have had a brain fart!
EMAX is not worth the ETH gas prices
Anyone remembers EMAX?....yeah...anything can happen out here man. Usually any new project is met with alot of hype, whether actually usable or not. The true test is when the hype dies out. It's still pretty early. If you wanna test your skills you better have a big red 6 inch emergency sell button on your wall or something.
I once bought EMAX. The end. I thought talking helped ease the pain? WTF....
Buying EMAX is like finding your identical hand twin. I’m going to be a millionaire
tldr; Stars like Kim Kardashian and Matt Damon are promoting crypto, but not everyone is happy about it. Kardashian was recently sued for promoting the EMAX token on Instagram to her 251 million followers. A lawsuit claims the A-listers colluded with EMAX executives to pump and dump the tokens. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Class action lawsuit alleges celebrities and EthereumMax executives made ‘false and misleading statements’ to investors. The value of the company’s EMAX tokens increased by as much as 1,370% after the media marketing blitz before crashing to an all-time low, the suit claims. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. are facing a class-action lawsuit over their promotion of the EMAX cryptocurrency token. The lawsuit alleges that Kardashian and Mayweather misled investors in their promotion. The case seeks restitution and disgorgement of profits by the defendants. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; A lawsuit alleges Kim Kardashian, Floyd Mayweather and Paul Pierce used their fame to promote a new cryptocurrency as part of a scheme to defraud investors while profiting for themselves. The lawsuit claims the trio acted as celebrity endorsers of EthereumMax, or EMAX, which was pitched to investors as a disruptive new cryptocurrency. The cryptocurrency's creators then sold their holdings of EMAX "for substantial profits," the lawsuit alleges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Class action lawsuit alleges celebrities and EthereumMax executives made ‘false and misleading statements’ to investors. The value of the company’s EMAX tokens increased by as much as 1,370% after the media marketing blitz before crashing to an all-time low, the suit claims. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
"The plaintiff in the case is a New York resident who purchased EMAX tokens and lost money. The filing is suggesting the case as a class-action suit in which anyone who bought tokens between mid-May and late July is included, and seeks restitution and disgorgement of profits by the defendants. Initial claims state that two celebrities used their notoriety to promote tokens sold by EthereumMax, otherwise known as EMAX, in turn boosting its price in an effort to collect profits “at the expense of their followers and investors.”
The “fools” I’m referring to are the poor schmucks that bought EMAX. How are they getting money? I think you’re confused
tldr; Cryptocurrency investors are suing Kim Kardashian, Floyd Mayweather, and Paul Pierce in a lawsuit that alleges the celebrities duped fans into buying EMAX tokens that eventually plummeted 98% in value. The class-action complaint was filed on behalf of all investors who purchased tokens between May 14 and June 27, 2021. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. are facing a class-action lawsuit over their promotion of the EMAX cryptocurrency token. The lawsuit alleges that Kardashian and Mayweather misled investors in their promotion. The case seeks restitution and disgorgement of profits by the defendants. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Yeah this is just a distraction and further promoting EMAX. Because of this post I've spent 10-15 minutes searching through related articles.
tldr; A new class-action lawsuit has been filed against the company behind the EMAX cryptocurrency. The lawsuit also names Kim Kardashian, Floyd Mayweather Jr., and former Boston Celtics star Paul Pierce as defendants. The suit claims the defendants' actions violate California's Unfair Competition Law and Consumer Legal Remedies Act. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
If Kim or Floyd held EMAX and did a pump&dump then they might be in trouble but I don't see anything happening here. It stinks but there's no rules against it. Basketball guy told a story of how he bought an sold a token and made bank. Can't see a problem at all with that.
tldr; Kim Kardashian, Floyd Mayweather, and Paul Pierce have been sued for promoting the EMAX token. The lawsuit was filed by New York resident Ryan Huegerich, who is also suing the as-of-yet unknown corporate entity behind EMAX tokens. Mayweather sported an EMAX logo during an exhibition boxing match. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*