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The EMAX case gets thrown out, even though Kardashian previously agreed to pay up over $1 million in fines.
Continue reading Kim Kardashian’s Crypto Scam Lawsuit Dismissed by Federal Judge at DailyCoin.com.
An investor-led class action lawsuit against EthereumMax’s creators and celebrity backers Kim Kardashian and Floyd Mayweather Jr. over their social media promotion of the cryptocurrency was dismissed by a federal judge on Wednesday. Investors who purchased EMAX tokens claimed they had lost money after believing the celebrity influencers about the value of cryptocurrencies. According to the […]
Kim Kardashian and Floyd Mayweather Jr. have won a preliminary court ruling that dismisses a lawsuit accusing them of defrauding EthereumMax investors. Investors claimed in a January complaint that the reality television star and former boxing champion overvalued the EMAX tokens, causing them to pay “inflated prices” for blockchain-based digital assets. Paul Pierce, a former […]
The last cycle saw it all – millions drained from DeFi, celebrities pumping and dumping tokens, ecosystems rising and falling.
Continue reading Crypto Halloween: Top 6 Scariest Incidents of the Last Bull Cycle at DailyCoin.com.
The token has since dumped almost 50% but is still trading higher than before SEC settlement news broke.
American TV reality superstar, Kim Kardashian has been charged by the United States Securities Commission (SEC) for the promotion of EMAX Token, the native coin of the EthereumMax protocol (Read More)
Kim Kardashian is facing scrutiny over her EthereumMax promotions. Kim has been charged by the Securities and Exchange Commission for promoting a crypto asset security issued and sold by EthereumMax on social media without reporting the compensation she got for the promotion. In exchange for dropping the accusations, paying $1.26 million in fines, disgorgement, and […]
Many celebrities including Kim Kardashian are sued by EMAX investors. Kim Kardashian alone pays a hefty fine of more than
The SEC argues that the reality TV star failed to disclose the $250K payment she received for EMAX promotion.
The United States SEC charged the American celebrity and influencer for promoting a cryptocurrency asset security without disclosing payments received to her followers.
Her lawyers filed a motion in a California U.S. District Court to try and have the complaint against her dismissed.
Continue reading Kim Kardashian Attempts to Escape EthereumMax Lawsuit at DailyCoin.com.
On April 13, retired professional boxer Floyd Mayweather will launch a new non-fungible token (NFT) project, dubbed Mayweverse, that would offer crypto enthusiasts a collection of 5,000 NFTs that can be minted for 0.3 Ethereum (ETH) each. Mayweverse launches on Wednesday April 13thMore details about the mint on our discord! RT if you are Ready ?? pic.twitter dot com/T8Mz4YpzXe […]
The post Floyd Mayweather launches new NFT project despite shady past in crypto space appeared first on CryptoSlate.
If you are in the United States of America, then you must abide by the laws. The US is strict when it comes to enforcing the laws. If you spread misinformation that causes people to lose money, you can get sued. This is exactly what Kim Kardashian, Paul Pierce, and Floyd Mayweather did. What's even funny is that all three were involved in a pump-and-dump crypto scheme. But which cryptocurrency did they try to pump? Well, it's non-other than the EthereumMax pump. In this article, we're going to talk about what EthereumMax stands for, and how did those celebrities get involved.
What is EthereumMax Crypto?It is clear that the EthereumMax project started by taking the name of an already existing and successful blockchain: Ethereum. This alone should've been a red flag for crypto investors. On another note, when going to their official website, the most apparent thing is how to "buy" their token. They even go the extra mile to list the steps users need to take in order to buy the token.
Aside from all this sketchiness, EthereumMax claims to be a "community-driven" crypto project that "provides lifestyle perks with financial rewards and incentives to its holders with a pathway for practical long-term use in everyday life." If you didn't quite understand what that means, don't worry because neither did we. When a project does not clearly outline the goals and vision, run away.
EthereumMax Pump - What Exactly Happened?A class-action lawsuit is accusing EthereumMax and its celebrity promoters of working together to artificially inflate the price of the EMAX token. They basically made "false and misleading statements" on social media, as mentioned in the lawsuit.
Kim KardachianKim Kardashian has over 281 million followers on Instagram alone. Sending a hyped message to this many people about a crypto project from someone who does not understand tech properly sounds sketchy indeed. In the below screenshot, we can see a story posted by Kim that instigated that EMAX was going to "BOOM". Analysts say that Kim was paid between USD 500,000 and USD 1,000,000 on each sponsored post to boost EMAX.
Floyd MayweatherFloyd backed the EMAX token during his boxing match against the Youtuber Logan Paul. Tickets to the event could be purchased with the EMAX token. Since many people were expected to attend the fight, the lawsuit claims that this move boosted the trading volumes significantly.
The real crypto community knows how to differentiate between real crypto projects and bad ones. When Floyd attended a Crypto conference during that same period of time, he tried to promote EMAX. Luckily, he was booed off the stage.
https://www.youtube.com/watch?v=mBfNEp599K4 Paul PiercePaul is a former NBA basketball player who was also caught in the heat of boosting EMAX's social presence. Right after he was fired from ESPN for sharing controversial Instagram videos, he went to Twitter to make things worse.
EMAX Collapsed and People Lost MillionsAll the three above celebrities happened to boost the EthereumMax project during the same period, which was towards the end of May and the beginning of June 2021. The price of the EMAX token skyrocketed x16 times within 3 days. On the other hand, the dump was very quick and harsh. Many people lost a lot of money, the fact that made the authorities raise red flags about this event, and in turn, file lawsuits against those celebrities who participated in this pump-and-dump scheme.
EMAX lost more than 98% of its value, leaving investors to dust. That's why it is always advisable to understand the real use-case or service of the crypto project you're investing in. Simply saying "we are awesome and you'll get rewards" is not enough, nor "you'll make big bucks soon". Today, there are many real crypto projects that are serving the crypto community and helping in bringing decentralization forward.
If you want to buy real crypto tokens, consider crypto exchanges like Binance , Coinbase , Kraken , and Bitfinex .
EthereumMax© Cryptoticker
The post Celebrities got SUED because of EthereumMax Pump and Dump…But Why? appeared first on CryptoTicker.
Kim Kardashian and Floyd Mayweather Jr. are being sued for promoting the alleged crypto scam regarding the EthereumMax token. The promotion of the said altcoin by the reality star and the boxing legend to their millions of social media followers misled investors. The lawsuit that was filed on 7 January 2022 in Los Angeles federal […]
Instagram influencers Kim Kardashian and American boxer Floyd Mayweather have been sued by investors accusing celebrities of falsely promoting crypto tokens to mislead investors. (Read More)
In the last four months, EthereumMax (EMAX) has lost 97.87% of its value.
While a federal judge dismissed the lawsuit last year, U.S. District Judge Michael Fitzgerald has given the plaintiffs a new chance at pursuing action against the celebrities.
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