The alliterate reality star and the boxer should be sued for their actions regarding pumping and dumping and everyone else including the NBA owner and the celebrity CEO should also be sued.

Kim Kardashian

Floyd Mayweather

Mark Cuban

Elon Musk

Angry Crypto Investors Sue Kim Kardashian, Floyd Mayweather Over ‘Pump and Dump’ Scam

A group of cryptocurrency investors who lost dearly on a novel digital coin in 2021 have launched a lawsuit against the token’s issuing company and its celebrity promoters, including Kim Kardashian, boxing champion Floyd Mayweather Jr, and basketball player Paul Pierce, alleging a “pump and dump” scheme.

A class action suit filed in the U.S. District Court for the Central District of California on January 7 claimed that executives of the cryptocurrency company EthereumMax, in collaboration with Kardashian, Mayweather Jr and Pierce, sought to enrich themselves by making “false and misleading statements” about the company’s digital token, EMAX, through social media advertisements and other promotional activities that reached hundreds of millions of potential investors.

EthereumMax launched EMAX on May 14, 2021 at a unit price of $0.00000005875 with a total transaction volume of $16.11 million. Within weeks, the token’s value spiked by as much as 1,370 percent, thanks to a wave of celebrity endorsements, before crashing over 99 percent.

Plaintiffs alleged that EthereumMax paid its celebrity endorsers millions of dollars to promote the token on their social media channels. In May 2021, Pierce tweeted to his four million followers claiming that he had made money from the token. In June, Kardashian promoted EMAX on Instagram to her 250 million followers; the same month, Mayweather was seen promoting the token at the “Bitcoin 2021” conference in Miami, Florida.

EthereumMax also promoted the token on the boxing website, The Fight Website, by offering incentives such as “orders over $5000 will receive authentic, signed Floyd Mayweather boxing gloves” and “2 front row ringside tickets available exclusively for Ethereum Max purchase,” according to the lawsuit.

However, after the promotional period ended, EMAX’s value was immediately on a free fall. By mid-July, the token had tumbled 98 percent from its peak. By August 1, transaction volume had plummeted by more than 99 percent from its initial capital. It has not recovered much since then. – Source

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