Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.
Kim Kardashian will pay $1.26 million in a crypto-related fine to the SEC. Here are other high-profile celebrities who have backed recent crypto ventures.
Kim Kardashian will pay $1.26 million in a crypto-related fine to the SEC. Here are other high-profile celebrities who have backed recent crypto ventures.
Samantha DelouyaOct 5, 2022, 17:51 IST
Kim Kardashian at the World Trade Center on June 21, 2022.Raymond Hall/GC Images
Kim Kardashian agreed to pay the SEC $1.26 million related to an Instagram post promoting crypto.
While most celebs have gone silent on crypto assets as prices collapse, Kardashian isn't the only star who touted it in recent years.
Kim Kardashian will pay a hefty fine linked to a crypto promotion that the SEC said broke its rules.
Kardashian settled with the agency for $1.26 million after she promoted EthereumMax on Instagram in June 2021 and failed to disclose that she was paid $250,000.
"This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn't mean that those investment products are right for all investors," SEC Chair Gary Gensler said
The price of bitcoin and other crypto assets, including NFTs, has collapsed since surging to new highs in 2021.
While most celebrities have fallen silent on their support for crypto in recent months, Kardashian was not the only mega-celebrity who publicly backed a crypto-related asset over the past two years. Check out some other notable examples.
Advertisement
Matt Damon
Matt Damon Crypto.com commercialCrypto.com commercial
Reese Witherspoon
NBC / Getty Images
Advertisement
Tom Brady
FTX crypto commercial featuring Tom BradyFTX
Naomi Osaka
Naomi Osaka wears an FTX patch at the US OpenMatthew Stockman/Getty Images
Advertisement
Jimmy Fallon
Jimmy Fallon shows off his Bored Ape NFTThe Tonight Show
Post Malone
Post Malone performs at the Rock in Rio music festival in Brazil on September 4, 2022.MAURO PIMENTEL/AFP via Getty Images