EMAX price rises 126% after Kim Kardashian case

EMAX price rises 126% after Kim Kardashian case

On October 3, 2022, the SEC decided to indict the famous influencer Kim Kardashian. The regulator accused Kim of illegally promoting a cryptocurrency called EthereumMax (EMAX). The SEC announcement made headlines around the world, bringing fame to a crypto that was little known. This contributed to the rise in the price of EthereumMax (EMAX).

EMAX goes from $0.000000004232 to $0.000000009605

On October 3, after the SEC announcement, the price of EthereumMax (EMAX) increased by 126% from $0.000000004232 to $0.000000009605. Of course, this peak is not very significant, but it shows how a simple announcement can contribute to the rise in the value of crypto. It should be noted that the token fell to $0.000000005544 shortly after 126% increase.

We remind you that the SEC condemned the American star Kim Kardashian to pay a fine of 1.26 million dollars. The problem wasn’t that the star gave his support for crypto on his Instagram account. The real concern is that she did it without telling her followers that she received $250,000 in exchange for the promotion. For the United States SEC, this is clearly an illegal act that should be punished.

Kim Kardashian appears to have avoided a lawsuit by agreeing to pay the $1.26 million fine. This amount includes the refund of $250,000 she received in exchange for promoting EthereumMax (EMAX). On social networks, many criticized the presence of Kanye West’s ex-wife in this affair. Others are happy to have turned a profit in the current bear market environment.

For many regulators and professionals in the crypto sector, this case should appeal to consumers. Investors should understand that investment projects are not automatically legitimate because a famous person has endorsed them.

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Luke Jose Ajinaku's avatar
Luke Jose Ajinaku

Far from dampening my enthusiasm, a failed cryptocurrency investment in 2017 only increased my enthusiasm. So I decided to research and understand the blockchain and its many uses and to impart with my pen information related to this ecosystem.

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