Celebrity & Billionaire Kim Kardashian and American Boxer Floyd Mayweather Sued by Investors Over Alleged Crypto Scam

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Celebrity & Billionaire Kim Kardashian and American Boxer Floyd Mayweather Sued by Investors Over Alleged Crypto Scam

14th January 2022 | Hong Kong

Celebrity & billionaire Kim Kardashian and American Boxer Floyd Mayweather had been sued by investors over an alleged crypto scam, where they had made false or misleading statements to promote investing into EthereumMax cryptocurrency through paid (sponsored) social media posts to millions of their followers.  Kim Kardashian has around 279 million Instagram followers while Floyd Mayweather has 27 million Instagram followers.  The cryptocurrency EthereumMax had lost 97% of its value since June 2021, with some investors labelling this as a “pump and dump” scheme – where prices are being hyped or pushed up for scammers or syndicates to sell their holdings at a higher price, and thereafter causing the price to crash.  Celebrity Kim Kardashian who has an estimated fortune of more than $1 billion, can command a fee ranging from $500k to over $1 million for a sponsored Instagram post.  In 2018, Floyd Mayweather, who has an estimated fortune around $450 million, was charged by the United States Exchange Commission for pumping up an initial coin offering, and settled $600,000 with United States SEC.  The case was filed as a proposed class action on behalf of investors who bought EthereumMax tokens from mid-May to late June 2021.

“ Celebrity & Billionaire Kim Kardashian and American Boxer Floyd Mayweather Sued by Investors Over Alleged Crypto Scam “

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Celebrity & Billionaire Kim Kardashian and American Boxer Floyd Mayweather

Kim Kardashian has around 279 million Instagram followers while Floyd Mayweather has 27 million followers.

Celebrity Kim Kardashian who has an estimated fortune of more than $1 billion, can command a fee ranging from $500k to over $1 million for a sponsored Instagram post.  In 2018, Floyd Mayweather, who has an estimated fortune around $450 million, was charged by the United States Exchange Commission for pumping up an initial coin offering, and settled $600,000 with United States SEC.

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