The controversy Kim Kardashian, Floyd Mayweather, basketball player Paul Pierce are all under fire for using their platforms to promote the EthereumMax (EMAX) token. As stated in the class action complaint “This case arises from a scheme among various individuals in the cryptocurrency sector to misleadingly promote and sell the digital asset associated with EthereumMax (the EMAX Tokens) to unsuspecting investors.” The case essentially states that the defendants used their own influence as celebrities to artificially inflate the price of the token. From there, investors bought EMAX tokens at an inflated price. After this, supposedly the defendants involved then went and sold off their shares of the token, made a…
Steven Seagal KOed by SEC
The martial arts actor agreed to pay more than $300,000 to settle Securities and Exchange Commission charges over his endorsement of a 2018 ICO
Seagal agreed to a $314,000 fine for failing to disclose that he had been promised $1 million in cash and cryptocurrency for promoting Bitcoiin2Gen's initial coin offering.
From K-pop to boxing, stars are launching personal cryptocurrencies
Floyd Mayweather and DJ Khaled got burned by supporting ICOs, but now celebrities are creating utility tokens letting fans interact with them
K-pop has grown into a $5 billion business with an international fanbase over the past five years. Now a major Korean music label said it wants to use blockchain technology to help its stable of K-pop superstars get closer to their fans.