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KimKardashian is the latest celebrity to get into legal trouble for promoting a product to her followers without telling them she was paid to do so. The reality star was fined by the SEC for promoting a security.
The action could be a win for the SEC in terms of stricter enforcement of the rules, but others argued the action was unfair due to the fact that he is a celebrity.
Don't jump to support her if you don't know that any defense of her on the basis of her identity is incorrect and misguided. Even though she is known for stealing, scamming, misleading, and exploiting, she is not the only celebrity at risk of being hit with penalties for shillingcryptocurrencies.
The SEC charged Floyd and DJ with promoting investments in initial coin offerings. Both paid tens of thousands of dollars in fines and were banned from promoting any securities for a long time.
Before anyone takes crypto advice, of all things, from a celebrity like Matt Damon on the internet, one should ask if Matt Damon takes financial advice from Matt Damon.
The worst is yet to come for the group that has yet to face off with the SEC. More than 3.5 million investors lost $5 billion as a result of Mark Cuban's promotion of the now-bankrupt Voyager Digital cryptocurrencies platform. After the exchange was hacked for $34 million in January, Matt Damon faced a lot of criticism, but he has avoided any legal action because his ads were labeled as advertising.
One typically only offered in defense of white women when suggesting that a woman shouldn't be criticized for wrongdoing because she's a woman.
It was an unknown token worth almost nothing before she posted about it on social media.
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