Kim Kardashian with allegedly promoting a cryptocurrency on her Instagram account
The star now has 330 million Instagram followers
she wrote in that post ‘’ARE YOU GUYS INTO CRYPTO????’’ including a link to Ethereum Max’s website
She’s agreed to pay $1.26 million and not promote crypto securities for the next three years.
The settlement shows that the SEC is ready, willing, and able to go after celebrity crypto endorsers.
SEC chair Gary Gensler did a little social media influencing of his own
The SEC has already investigated some of the biggest platforms and people in it.
Kardashian is one of the first, and surely the highest-profile celebrity
Kardashian’s settlement includes that $250,000, interest, and a $1 million penalty.
This is only a small fraction of his net worth, which is estimated to be around $2 billion.
This shows that the SEC isn’t afraid to go after some of the biggest celebrities in the world.