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.
