A class action lawsuit has named Kim Kardashian, Floyd Mayweather and basketball star Paul Pierce as defendants for promoting a cryptocurrency called EthereumMax. according to FeinboldPlatentivs is suing celebrities and the as yet unidentified entities behind the tokens for causing the value of a fake Ethereum version to rise so that they can sell their stake in Float for a profit. It lists the case of any person who has invested in the token 14 and May June 2021 as a defendant 27.
as Gizmodo He explains that the plaintiffs accuse the defendants of committing a “pump and dump” scheme, in which investors sell their shares to earn a lot of money after organizing an increase in their value. The lawsuit states that the coin surged 632 percent in value after Mayweather and Pierce touted it – the boxing star wore shorts with the EthereumMax URL during his show match with Logan Paul, while Pierce tweeted about it.
At the same time, Kardashian published EthereumMax stories Instagram, and told her followers that she heard from her friends and linked on its website. According to Morning Consult, the 19 percent of respondents who said they heard about the job Kardiashian invested in EthereumMax as a result. The lawsuit states that the day following the publication of Kardashian, the value of the symbol featured by 98 percent decreased. Moreover, claims that the creators of the currency they have sold their shares before the low price, as described in their portfolio activities.
It was a celebrity advocate for the currency symbols encoded for a while now, but they make their own symbols. This is not the first time or the last that they engage them in disputes over the token – the Securities and Exchange Mayweather has accused, for example, in 2018 for failing to disclose that he had received $ 100,000 to promote the company Centra display the initial currency of the company Tech in 2017 has been arrested two of the founders of Centra Tech for fraud in securities and mail fraud, accusing them of where the Securities and Exchange “body promoting relations do not exist between Centra and financial institutions known as” in an attempt to entice people to invest in ICO.
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