Kim Kardashian pays $1.26 million for cryptocurrency mess-up

Kim Kardashian pays $1.26 million for cryptocurrency mess-up

Kim Kardashian has agreed to pay a $1.26 million fine for advertising cryptocurrency EthereumMax on her Instagram page.

According to the US Securities and Exchange Commission, the reality TV star received $250,000 for advertising the cryptocurrency.

Apart from the fine, she has also agreed not to promote crypto asset securities on her social media for 3 years.

During the probe, the SEC found that Kardashian violated the anti-touting provision of the federal securities laws.

The final settlement includes a $1 million fine and forfeit of the $250,000 payment she received along with interest.

Kardashian posted the ad on June 13, 2021, saying, “Are you guys into crypto?”

At the time of the post, she had 225 million Instagram followers, the SEC added.

Kardashian’s net worth is estimated at $1.8 billion in 2022, according to Forbes.