In June 2021, Kim Kardashian shared a post with her 225 million Instagram followers promoting a crypto asset called EthereumMax (EMAX). She wrote, “This is not financial advice, but sharing what my friends told me about EthereumMax,” and encouraged followers to “swipe up” to join the Ethereum community. Although she tagged the post with “#Ad,” Kardashian did not disclose that she had been paid $250,000 for the promotion (SEC Charges Kim Kardashian). What seemed like a harmless endorsement qui...

In June 2021, Kim Kardashian shared a post with her 225 million Instagram followers promoting a crypto asset called EthereumMax (EMAX). She wrote, “This is not financial advice, but sharing what my friends told me about EthereumMax,” and encouraged followers to “swipe up” to join the Ethereum community. Although she tagged the post with “#Ad,” Kardashian did not disclose that she had been paid $250,000 for the promotion (SEC Charges Kim Kardashian). What seemed like a harmless endorsement qui...