Kim Kardashian settles SEC crypto charges for $1.26 million


A celebrity paid promo for social media has gone completely wrong.
Kim Kardashian is being charged by the U.S. Securities & Exchange Commission for "promoting a cryptocurrency without disclosing that she had been paid for the promotion," Axios confirms, adding that she "has agreed to pay $1.26 million as part of a settlement."
Kim was paid $250,000 to publish an EthereumMax crypto post on Instagram — and that's part of what she will now be paying to the SEC, plus interest and an additional $1 million penalty. The Instagram post that she published read: "Are you guys into crypto? This is not financial advice but sharing what my friends told me about the Ethereum max token," CNN reports.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Her attorney said she "fully cooperated with the SEC" in an effort to "move forward" with her other business ventures. In addition to the settlement, she's also "agreed to not promote any cryptocurrencies for the next three years."
Axios says federal officials have gotten more strict about holding celebrities accountable for crypto endorsements. Floyd Meriwether and Paul Piece were also "named [as] defendants in a civil suit related to [the] promotion of EMAX tokens."
"This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto-asset securities, it doesn't mean that those investment products are right for all investors," SEC Chair Gary Gensler told CNN. "We encourage investors to consider an investment's potential risks and opportunities in light of their own financial goals."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kelsee Majette has worked as a social media editor at The Week since 2022. In 2019, she got her start in local television as a digital producer and fill-in weather reporter at NTV News. Kelsee also co-produced a lifestyle talk show while working in Nebraska and later transitioned to 13News Now as a digital content producer.
-
Trump crypto token launch earns family billions
Speed Read The World Liberty Financial token is now the Trump family's 'most valuable asset'
-
China's Xi hosts Modi, Putin, Kim in challenge to US
Speed Read Chinese President Xi Jinping hosted Indian Prime Minister Narendra Modi, Russian President Vladimir Putin and other Asian leaders at an SCO summit
-
6 products and apps to help fight jet lag
The Week Recommends Don't let travel fatigue drag you down
-
New York court tosses Trump's $500M fraud fine
Speed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year