The SEC said Kim Kardashian received $250,000 to promote EthereumMax tokens without disclosing the payment as securities law required. She settled without admitting or denying the findings and agreed to pay $1.26 million, including penalty, disgorgement, and interest.
I don’t need to decide whether every celebrity-backed token is a scam to dislike this. The payment changes how a reader should weigh the endorsement. A small disclosure buried under a polished post is not the same as telling people plainly that the recommendation was bought. That is the useful lesson in this case, not speculation about every other crypto project.