Kim Kardashian, the reality TV star, paid $1.26 million to settle charges related to her online promotion of the EthereumMax digital token, the U.S. Securities and Exchange Commission said Monday.
Kardashian failed to disclose a $250,000 payment to post on her Instagram account about EMAX tokens, the digital asset associated with EthereumMax (a crypto project unrelated to Ethereum, the second largest crypto token). Instagram influencers often fail to disclose paid posts, but Kardashian ran afoul of federal securities laws that explicitly require celebrities or others to disclose details about compensation they receive from such promotions.
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