Kim Kardashian has agreed to pay a $1.26 million fine for pushing a dubious cryptocurrency asset to her hundreds of millions of social media followers without disclosing that she’d been paid to do so.
asset to her hundreds of millions of social media followers without disclosing that she’d been paid to do so, the Securities and Exchange Commission said Monday.
“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including, it doesn’t mean that those investment products are right for all investors,” SEC Chair Gary Gensler said in a news release. “We encourage investors to consider an investment’s potential risks and opportunities in light of their own financial goals.
As well as the eye-watering fine, Kardashian agreed not to promote any crypto asset securities for three years in settling the charges.star didn’t admit or deny the SEC’s allegations, which claimed that she’d violated anti-touting rules in securities laws.