Kim Kardashian Charged by SEC for Crypto Promo, Agrees to Pay $1.26 Million

Kim Kardashian failed to tell her followers she was paid to promote a crypto asset — a mistake that’s now cost her $1.26 million and charges from the Securities and Exchange Commission.

The SEC made the announcement Monday … Kardashian was allegedly paid $250,000 to post about EMAX tokens on Instagram, a crypto asset offered by EthereumMax. Kim’s post also included a link to the EthereumMax website where her followers could buy the tokens.

Kim has already paid $1.26 million in penalties, disgorgement and interest to the SEC … and has cooperated in the SEC’s ongoing investigation.

SEC Chair Gary Gensler says, “Ms. Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities.”