Why Was Kim Kardashian Fined $1.26 MM for an Instagram Post?

Why Was Kim Kardashian Fined $1.26 MM for an Instagram Post?

Kim Kardashian is not new to controversies. The past few months saw Kardashian repeatedly making the headlines following her divorce from Kanye West. Time and again, the SKIMS founder found herself surrounded by various gossip and rumors about her relationship with the rapper. While the news about her marriage has been put to rest now, there was a time when Kardashian had a legal battle on her shoulders.

Kim Kardashian, as we all know, is among one of the most popular and influential individuals in the world today. Owing to the massive following she enjoys on social media, it is no surprise that plenty of businesses approach the model for promotion. However, a few months back, one of her advertisement posts landed the model in some legal trouble. And, Kardashian had to pay a “huge” amount of compensation as a settlement.

Kim Kardashian charged by the SEC

Over the past few months, we saw a massive trend emerge in the form of cryptocurrencies. A plethora of Hollywood celebrities and many other renowned individuals, such as Logan Paul and Elon Musk, were promoting digital currency rapidly. Likewise, not long ago, Kim Kardashian also took to Instagram, where she shared details to promote EthereumMax crypto tokens. However, the Securities and Exchange Board charged the Keeping up with the Kardashians star a whopping $1.26 million fine.

Apparently, she failed to disclose the amount of $250,000 that the brand paid her to publish the Instagram post. Kardashian will not promote any other crypto securities for the next three years. As per The National, in October 2022, the SEC chairman Chair Gary Gensler spoke about how celebrities promoting crypto securities “doesn’t mean that those investment products are right for all investors.” 

However, Kardashian is not the first Hollywood celebrity to get caught up in hot water with the SEC over not disclosing her fees. Back in 2018, DJ Khaled and legendary boxer Floyd Mayweather Jr. were also charged after failing to disclose the payments they received. Meanwhile, the latest statistics prove that only 6 percent of the investors in the UAE trust social media influencers for financial advice.

How is Kim reacting to Kanye’s new marriage?

After staying away from the limelight for weeks, Kanye West shocked everyone by announcing his marriage to Bianca Censori. However, it seems like Kardashian is entirely unbothered by Kanye’s new marriage. Recently, the social media influencer even posted a picture of her with the caption happy era.”

ALSO READ: All a Secret? Kanye West “did not tell” Kim Kardashian About His Marriage With Bianca Censori, Reveals Source

What are your thoughts about Kim’s legal trouble? Feel free to let us know in the comments below.

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