A group of people who lost all their money are joining a class action lawsuit against this permanent A+ list boxer, an A list reality star, other celebrities and a company alleging they were misled/scammed.
Floyd Mayweather, Kim Kardashian, Jake Paul, Paul Pierce, Nick Carter, Ben Phillips, Soulja Boy, Lil Yachty
Jake Paul, Kim Kardashian Lead List of Celebrities Sued for Crypto Ads
Kim Kardashian and Jake Paul are among a host of celebrities currently facing legal action over using their sizable platforms to advertise cryptocurrencies.
With Bitcoin and other cryptocurrencies crashing further this week amid a massive sell-off, the celebrity lawsuits—which were filed earlier this year—have re-entered the public conversation.
In January, Kardashian was named in a class-action lawsuit alongside former NBA star Paul Pierce and boxer Floyd Mayweather, who have been accused of using their fame to promote EthereumMax as part of a larger scheme to defraud investors, per the suit.
According to the lawsuit, those endorsements were allegedly part of a broader scheme by EthereumMax’s creators to inflate the price of the token before selling it off, popularly referred to as a pump and dump.
The lawsuit states that the digital coin’s creators, Steve Gentile and Giovanni Perone, sold their holdings of EthereumMax “for substantial profits.”
Back in June of last year, Kardashian promoted EthereumMax, posting an ad for the cryptocurrency on her Instagram Stories.
“Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token!” the ad read.
“A few minutes ago Ethereum Max burned 400 trillion tokens—literally 50% of their admin wallet, giving back to the entire e-max community.”
Kardashian’s post also encouraged viewers to “Swipe up to join the e-Max community.”
Per the BBC, the lawsuit states that sportsman Pierce promoted EthereumMax in a “widely discussed” Twitter post in May 2021, while Mayweather ‘s June 2021 boxing match with Logan Paul was also used to promote the coin.
Mayweather is alleged to have also promoted EthereumMax at a cryptocurrency conference.
In another lawsuit, YouTuber Paul and a host of other celebrities—including singer Nick Carter, social media star Ben Phillips, and rappers Soulja Boy and Lil Yachty—were in February named in a class-action lawsuit for promoting Safemoon. – Source
Read more on these Tags: Ben Phillips, Floyd Mayweather, Jake Paul, Kim Kardashian, Lil Yachty, Nick Carter, Paul Pierce, Soulja Boy
