SEC fines Kim Kardashian $1.26M for touting crypto token without disclosing stake

The Securities and Exchange Commission charged Kim Kardashian $1.26 million for promoting a cryptocurrency asset without disclosing being paid to promote it.

Kardashian promoted EthereumMax tokens on her Instagram account without disclosing that she had been paid $250,000 to post about the cryptocurrency. The influencer agreed to settle with the SEC over the action but did not admit to or deny the regulator's allegations in settling the case.

"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...