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Kim Kardashian and Floyd Mayweather Sued for Promoting EthereumMax

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Kim Kardashian and Floyd Mayweather Sued for Promoting EthereumMax
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Kim Kardashian, Floyd Mayweather, and other celebrities have become the target of a new lawsuit for promoting a crypto token called EthereumMax (EMAX).

Misrepresentation of Facts to Pump EMAX Token Price

Kim Kardashian, the reality TV star, and Floyd Mayweather, the boxing icon, are among the defendants in a new lawsuit. The suit, filed in federal court in Los Angeles on January 7, claims that the duo and other celebrities misled investors by pushing a digital currency called EthereumMax (EMAX).

According to court filings, the plaintiff represents investors who participated in “the Ethereum Max scheme” between May 14 and June 27, 2021. It asserted that they suffered damages due to Kardashian’s, Mayweather’s, and others’ promotional actions.

AAX P2P is Live Now to Nigerians

According to the documents, the celebrities deceived investors by misrepresenting material facts about the crypto asset and giving the idea that buying the token would result in profit.

According to a statement in the lawsuit:

“In furtherance of this scheme, Defendants touted the prospects of the Company and the ability for investors to make significant returns due to the favorable “tokenomics” of the EMAX Tokens. In truth, Defendants marketed the EMAX Tokens to investors so that they could sell their portion of the Float for a profit”.

Other Celebrities Were Paid to Promote EthereumMax Token

The celebrities promoted EthereumMax via their social media profiles by working with company personnel, according to the complaint. It went on to say that the goal was to increase the value of the EMAX token and entice as many investors as possible to buy it. It also noted that the defendants were successful in achieving their goals.

Steve Gentile, Giovanni Perone, Justin French, and Paul Pierce are the other prominent defendants in the lawsuit. 

Kimberly Kardashian wrote to her 250 million Instagram followers in a June 2021 Instagram post promoting EthereumMax:

AAX P2P is Live Now to Nigerians

“Are you guys into crypto?” she wrote, adding that her friends told her about Ethereum Max.

She did make it plain, however, that the post was a sponsored advertisement and that it was not financial advice.

During his fights, Floyd Mayweather wore EthereumMax shorts that he designed himself. Most notably, he wore such promo gear versus Logan Paul in the highly-publicized “Billing Rights” exhibition match in June 2021.

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