Kim Kardashian, Floyd Mayweather sued over promotion of EthereumMax cryptocurrency token

The lawsuit claims Kim Kardashian, Floyd Mayweather touted tokens sold by EthereumMax, or EMAX, in order to boost its price and make themselves a profit

| Updated on: Aug 21 2022, 23:16 IST
Kim Kardashian
According to the lawsuit, Kim Kardashian promoted EthereumMax in a post on Instagram, when she had 250 mn followers. (REUTERS)
Kim Kardashian
According to the lawsuit, Kim Kardashian promoted EthereumMax in a post on Instagram, when she had 250 mn followers. (REUTERS)

Reality TV star Kim Kardashian and boxing legend Floyd Mayweather Jr. are facing a lawsuit alleging the celebrities misled investors in their promotion of a cryptocurrency token. The lawsuit, filed Jan. 7 in Los Angeles federal court, claims the celebrities touted tokens sold by EthereumMax, or EMAX, in order to boost its price and make themselves a profit "at the expense of their followers and investors."

"The company's executives, collaborating with several celebrity promoters ... made false or misleading statements about EthereumMax through social media advertisements and other promotional activities," the lawsuit stated.

According to the lawsuit, Kardashian promoted EthereumMax in a June 2021 post on Instagram, when she had 250 million followers.

"Are you guys into crypto?" she wrote in the post, followed by the disclaimer "this is not financial advice", but that she wanted to share "what my friends just told me" about the EthereumMax tokens. She included the #AD hashtag to show the post was a paid advertisement, the lawsuit said.

Mayweather promoted EthereumMax on his boxing trunks during a widely viewed fight with YouTube star Logan Paul in June, among other times.

Representatives for Kardashian and Mayweather did not immediately respond to requests for comment.

EthereumMax, the company, was also named in the lawsuit.

"The deceptive narrative associated with the recent allegations is riddled with misinformation about the EthereumMax project," EthereumMax said in a statement. "We dispute the allegations and look forward to the truth coming out."

The lawsuit, filed by a New York resident who bought EMAX tokens and lost money, is proposed as a class-action suit for anyone who bought EMAX tokens from mid-May to late June 2021.

The case seeks restitution and disgorgement of profits by the defendants.

Hulu drops first teaser of Kardashian-Jenner family's new show 'The Kardashians'

(ANI) The Kardashian-Jenner family has the perfect gift for its fans this new year! The first teaser of the family's upcoming Hulu show is finally here.

On Friday, Hulu released the first teaser for the famous family's forthcoming series on the network, which will simply be titled 'The Kardashians'.

"New year, new beginnings. See you soon @kardashianshulu #TheKardashians," the streaming giant tweeted alongside a clip of the family.

"Happy New Year! We'll see you soon," family matriarch Kris Jenner wrote as she reshared the clip on social media. Added Kim Kardashian in her own tweet: "Coming soon..."

However, a premiere date for the forthcoming series was not included in the posts.

Kim and her family previously starred in E!'s long-running hit reality show 'Keeping Up with the Kardashians', which premiered in 2007. They announced the end of 'KUWTK' in September 2020, saying the "difficult decision" was made with "heavy hearts" and thanking their fans for all of the support, reported People magazine.

Three months later, during Disney's Investor Day in December 2020, Kim, Khloe Kardashian, Kourtney Kardashian, Kendall Jenner, Kylie Jenner and Kris announced they had signed a multi-year deal to "create global content" that will stream exclusively on Hulu in the United States and in multiple international territories on Star.

'KUWTK' concluded after 20 seasons in June and was followed by a two-part reunion special hosted by Andy Cohen.

Earlier this year, Kim hinted at a new production project, posting a photo of a microphone pack on her Instagram Story. "Day 1," she wrote. A few days later, during an appearance on 'The Late Late Show' with James Corden, Khloe said she "missed" getting to spend so much time filming with her family after 'KUWTK' wrapped.

"Since 2007, we haven't gone six weeks without filming. So, this six months without filming is the longest I've ever had," she said. "And it was weird at first but actually nice for a minute because we got to remember, 'Okay, this is what life [is like] not mic'd all the time. I don't have to be in full hair and makeup all day long!'"

"But ... even though we live next to each other and we're all, like, weirdly obsessed with one another, there's nothing like being paid to be with one another," she added. "Shout out to Kris Jenner."

From the studio audience, Kris admitted she also missed the experience of filming together. "Oh my God, she was pushing to start filming ASAP," Khloe said. "She missed it like crazy."

"I did," Kris confirmed.

"I said, 'We have to start filming. It's an emergency.' And they said, 'What's the emergency?' I said, 'I don't know, but I'll think of something'."

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First Published Date: 13 Jan, 09:37 IST