Like all things on social media, not all of the ‘expert’ financial advice you see is necessarily true or right for you.
Kim Kardashian’s crypto settlement could be a lesson for us all.
The reality TV superstar agreed to pay $1.26 million to settle charges with the Securities and Exchange Commission for failing to disclose she got paid to publish a post on Instagram about EthereumMax’s crypto asset, the agency announced Monday.
“Clearly the SEC is making an example out of Kim Kardashian, who is the biggest influencer perhaps in the world,” said Douglas Boneparth, a certified financial planner and the president of Bone Fide Wealth in New York.Celeb pitches may not be ‘right for all investors’
“This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors,” Gary Gensler, chairman of the SEC, said in a statement.
