Kim Kardashian’s Instagram post cost the star a record-breaking amount of money.
Kin Kardashian is also known for her unfailing style. PDO
The US Securities and Exchange Commission (SEC) has filed charges against Kim Kardashian over an Instagram post she published in which she expressed her support for the EthereumMax cryptocurrency.
The SEC suspected that Kardashian netted $250,000 from the post, or about €251,000. Kardashian herself was unable to clarify the origin of the payment at the commission’s request.
The matter will not be discussed any further, as the parties reached an amicable settlement. The amount of the payment was set at a whopping 1.26 million dollars, or about 1.27 million euros. In addition to paying the amount, Kardashian promised to assist in the investigation in any way possible, and she cannot support or promote activities related to cryptocurrencies for three years.
Chairman of the SEC Gary Gensler said on Twitter that the case is a reminder to influencers that legislation may define what things can be advertised on social media.
The SEC may have implicated Kardashian because the global superstar serves as an example to other influencers.
However, a fine of 1.26 million dollars feels the same in the social media star’s wallet as a fine of 100 dollars for the average American. The star’s net worth was estimated in 2022 Forbes– in the category of 1.8 billion dollars.