Kim Kardashian fined by SEC

Good move to help safe guard regular folks from crypto buying.

SEC fines Kim Kardashian, warns people about buying crypto touted by celebrities

Kim Kardashian will pay a $1.26 million penalty for touting a crypto security without disclosing that she was paid $250,000 to promote the token, the Securities and Exchange Commission announced today. Kardashian agreed to the payment to settle the charges and “agreed to not promote any crypto asset securities for three years,” the SEC said.

Kardashian’s $1.26 million payment includes a $1 million penalty and “approximately $260,000 in disgorgement, which represents her promotional payment, plus prejudgment interest.” Kardashian agreed to the payment “without admitting or denying the findings.” The disgorgement and prejudgment interest “will be distributed to harmed investors, if feasible,” the SEC order said.

Source: Ars

And what is this Ethereum Max thing. It’s confusing that there are so many of these and they all potentially could be rug pulls. Please be careful and only dabble if you know what you are doing.


SEC to require climate-change risk disclosures

I’m still a little confused how this would manifest but I’m glad SEC is mandating companies think about climate change as a risk to their businesses.

SEC to Require Climate-Change Risk Disclosures Under New Plan

Companies will need to reveal detailed information about their greenhouse gas pollution under a new U.S. Securities and Exchange Commission plan, portending a major shift in how corporations must show they are dealing with climate change. 

For the first time ever, the agency plans to require businesses to outline the risks a warming planet poses to their operations when they file registration statements, annual reports or other documents. Some large companies will have to provide information on emissions they don’t make themselves, but come from other firms in their supply chain.