KIM KARDASHIAN PAYS $1.26 MILLION TO THE SECURITY & EXCHANGE COMMISSION (SEC)

What’s new in cryptocurrency this week you ask? Well, today we saw where the SEC penalized Kim Kardashian to the tune of $1.26 million to settle charges with them. She also will be unable to further promote any crypto securities for a period of 3 years.

The SEC discovered that Kim didn’t disclose that she was paid $250,000 to publish (on her IG page) a post about Emax tokens. Emax is a crypto asset that was offered by EthereumMax. Kim’s IG post included a link to their website. Kim “agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation,” the SEC said Monday.

But don’t bother with feeling sorry for Kim, she’s worth about $1.8 billion😜 so paying that fine won’t mean that she won’t be able to eat, or her electric bill won’t get paid. The amount she agreed to pay includes $260,000 (which represents her promotional payment), plus prejudgment interest and a $1 million penalty. Whew! 👀😳

According to her attorney, Kim cooperated with the SEC from the very beginning and will continue to do whatever is necessary to make sure that this is behind her and will not hinder her other business deals. The SEC Chair said: “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. We encourage investors to consider an investment’s potential risks and opportunities in light of their own financial goals.”

There ya have it! Now of course we know better than to scroll through IG, see a post about cryptocurrency from Kim Kardashian’s page then immediately run to purchase it right? Nope! That’s not how we roll! We are the ones in the know, baby! And we’re learning more and more every day. The more information we have, the better able we are to make intelligent decisions with our money!

Peace out, see you tomorrow!🙏🏿🤎

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post.