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Kim Kardashian, Floyd Mayweather sued over promotion of crypto token -Breaking

by Mike Robinson

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© Reuters. Kim Kardashian, a television personality, attends a panel discussion for “Kim Kardashian West : The Justice Project”, during the Winter TCA Press Tour (Television Critics Association), Pasadena California, U.S.A, January 18, 2020. REUTERS/Mario Anzuoni

LOS ANGELES (Reuters), – A lawsuit has been filed against Kim Kardashian, reality TV star and Floyd Mayweather Jr. for allegedly misleading investors by promoting a cryptocurrency token.

According to the lawsuit filed in Los Angeles federal Court on Jan. 7, the celebrity plaintiffs claimed that they sold EthereumMax tokens or EMAX in an attempt to raise their prices and earn a profit “attributable of their investors and followers.”

The lawsuit claimed that “the company’s executives worked with many celebrity promoters and made misleading statements regarding EthereumMax via social media ads and other promotional activities.”

According to the suit, Kardashian promoted EthereumMax via an Instagram post in June 2021. She had then 250 million followers.

Are you into cryptocurrency? She wrote the following: “This is not financial advice”. However, she stated that she was sharing “what my friends just said to me” about EthereumMax tokens. According to the lawsuit, she used the hashtag #AD in the caption of her post as a way to make it appear like she was advertising.

Mayweather, who promoted EthereumMax in his boxing gear during an incredibly viewed fight against Logan Paul on June 2, among others.

Representatives of Mayweather and Kardashian did not respond immediately to inquiries for comment.

The lawsuit also included EthereumMax.

EthereumMax stated in a statement that the deceptive narrative surrounding the latest allegations was rife with misinformation regarding the EthereumMax Project. “We reject these allegations and we look forward to hearing the truth.”

This lawsuit was filed by a New York resident, who bought EMAX tokens but lost their money. It is a proposed class-action suit that covers anyone who bought EMAX tokens between mid May and the end of June 2021.

In this case, the defendants are required to pay restitution or disgorge profits.

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