Yesterday, the renowned model, businesswoman, and one of the most popular people on social media – Kim Kardashian – made the crypto headlines by agreeing to pay $1.26 million to promote Ethereum Max (EMAX).
Shortly after the news, the token’s valuation headed north and is currently 95% up daily.
- Earlier this year, a lawsuit filed in California claimed that the reality TV star Kim Kardashian and the boxing champion Floyd Mayweather inappropriately promoted a digital currency known as EthereumMax (EMAX).
- According to the prosecutors, advertising the token (considered by the US Securities and Exchange Commission as crypto security) could have resulted in significant losses for investors.
- It is worth noting that Kardashian, who has over 330 million followers on Instagram, received $250,000 to popularize EMAX on her account.
- Yesterday (October 3), the model agreed to pay $1.26 million in penalties and interest for misleading her fans to invest in an unregulated financial asset.
- Apparently, though, there is no such thing as bad publicity, as the token’s price reacted immediately.
- Since the latest developments, the price of EMAX has skyrocketed by over 95% and is currently trading at $0.000000008566. Its trading volume for the past 24 hours surpassed $280,000, while prior to the agreement with the SEC, it was around $13,000.
- At one point last night, the token was worth $0.000000009586, which was a 130% rise compared to yesterday’s figures.
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