American model Kim Kardashian paid for cryptocurrency promotion

Kim Kardashian has agreed to pay a fine of 1.16 million dollars, (Photo: File)

New York: American model and actress Kim Kardashian has agreed to pay a fine of $1.16 million for advertising cryptocurrency on her Instagram page.

The US Securities and Exchange Commission has said that reality TV star Kardashian received $250,000 to promote cryptocurrency.

Kardashian’s attorney has said the TV star has fully cooperated with the SEC from the beginning and is willing to do whatever she can to help them in this case.

It should be noted that in January of this year, a lawsuit was filed against Kardashian, boxer Floyd Mayweather Jr., basketball player Paul Pierce and the creators of the Ethereum Max cryptocurrency.

The lawsuit alleges they participated in misleadingly promoting and selling cryptocurrency in a ‘pump and dump’ scheme designed to inflate the price before selling it to investors.

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