Kim Kardashian, Mayweather Files Motion to Dismiss Cryptocurrency Suit
In October 2022, the SEC fined Kim Kardashian $1.26 million for promoting the cryptocurrency project EthereumMax (EMAX) to her 225 million Instagram followers. Kardashian did not disclose that she was paid $250,000 to promote the project. One British financial regulator at the time believed it to be one of the largest financial promotions in history. But it was also for a security asset, making it illegal. Other celebrities supporting the motion filed are Floyd Mayweather, Jr., Giovanni Perone, Paul Pierce, and Jona Rechnitz. However, there has been a revised attempt to hold Kim Kardashian and other celebrities responsible for the promotion of the cryptocurrency project. Kardashian, Floyd Mayweather, and other personalities are trying to convince a judge to rule out the revision of the lawsuit. The defendants contend that the additional claims pursue the same core notion that the court previously rejected. As per the lawsuit, the EthereumMax team collaborated with celebritie...