CryptoBlog n.797

The promotion of specific cryptocurrencies via social media is something you should always be cautious of, especially when it comes from celebrities. Sadly, the paid promotion of crypto and NFTs in is often undisclosed to audiences listening, leading less-seasoned investors into harmful situations. Earlier today, the SEC took action in one of these cases, particularly against global personality Kim Kardashian for her promotion of the security Ethereum Max. The charge was specifically for “touting a crypto security”, and Kardashian will reportedly pay $1,200,000 to settle. While Kardashian did disclose that the post in question was an ad, she fell short of the requirements specifically in place when promoting securities. These details include the exact amount she was paid for the promotion, as well as the source and time of payment.