Carpe Consensus
OPINIONATED: Is Kim Kardashian the SEC's Scapegoat?
Details on the SEC’s million-dollar fine for the influencer’s promotion of a token without disclosing payment.
Celebrities regularly accept promotional deals, hyping products from swimsuits to weight loss tea on social media to their hordes of followers. Trouble arrived when a crypto token deemed by regulators a security entered the mix.
“Opinionated” hosts Ben Schiller, Danny Nelson and Anna Baydakova are joined by writer and Assistant Opinion Editor Daniel Kuhn to dissect the bull market trend of celebrity crypto endorsements, and particularly Kim Kardashian’s shilling of the ethereumMax token.
Kardashian was fined $1.26 million this week by the Securities and Exchange Commission (SEC) for her promotion of a security without disclosing the payment she received in return. Was Kardashian an unlucky scapegoat, or is this penalty a harbinger of broader enforcement action to come?
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