Kim Kardashian would have to pay a $1.26 million fine for a single Instagram story.
Image Credit: her Instagram post
She published a story promoting the cryptocurrency Ethereum Max in June 2021, but she violated the rule.
Image Credit: her Instagram post
She was handed a significant fine from the Securities and Exchange Commission (SEC) on October 3, 2022, for not declaring the $250,000 she received for the promotion.
Image Credit: her Instagram post
According to the rules, if a celebrity promotes investing in securities, they must disclose the information that they were paid for doing so, and Kim Kardashian broke this law.
Image Credit: her Instagram post
And if anyone had purchased those tokens after reading Kim's story, they had already lost 95% of their investment.
Image Credit: her Instagram post
EMAX's worth is dependent on hype, as it is not half as secure as older cryptocurrencies such as Bitcoin or Ether, and its value has dropped 95.3% in the 16 months after her story.
Image Credit: her Instagram post