Kim Kardashian's $1.26 million agreement with the SEC caused EMAX token to explode by a whopping 95% daily.
Yesterday, the renowned model, businesswoman, and one of the most popular people on social media – Kim Kardashian – made the crypto headlines by agreeing to pay $1.26 million to promote Ethereum Max (EMAX).
Shortly after the news, the token’s valuation headed north and is currently 95% up daily.
Earlier this year, a lawsuit filed in California claimed that the reality TV star Kim Kardashian and the boxing champion Floyd Mayweather inappropriately promoted a digital currency known as EthereumMax (EMAX).
According to the prosecutors, advertising the token (considered by the US Securities and Exchange Commission as crypto security) could have resulted in significant losses for investors.
It is worth noting that Kardashian, who has over 330 million followers on Instagram, received $250,000 to popularize EMAX on her account.
Yesterday (October 3), the model agreed to pay $1.26 million in penalties and interest for misleading her fans to invest in an unregulated financial asset.
Apparently, though, there is no such thing as bad publicity, as the token’s price reacted immediately.
Source: CoinGecko
Since the latest developments, the price of EMAX has skyrocketed by over 95% and is currently trading at $0.000000008566. Its trading volume for the past 24 hours surpassed $280,000, while prior to the agreement with the SEC, it was around $13,000.
At one point last night, the token was worth $0.000000009586, which was a 130% rise compared to yesterday’s figures.
Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.
