As one of the celebrities who hyped the cryptocurrency Ethereum Max, Kim Kardashian was fined $1.3 million last month by the Feds. But the token’s famous promoters were merely the outward manifestation of more widespread disease.
investigation unmasks the pair of slick promoters who appear to have made millions pumping and dumping EthereumMax and other now virtually worthless crypto tokens.at the height of the cryptocurrency craze, Kim Kardashian posted an Instagram story promoting Ethereum Max, a brand-new token.
Kardashian was not the only famous personality to endorse the obscure token, which sported a market cap of nearly $250 million in May 2021 but is currently virtually worthless. Other paid Emax boosters included boxing legend Floyd Mayweather, NBA Hall of Famer Paul Pierce, and NFL wide receiver Antonio Brown.
In an apparent web3 twist on the classic “pump n dump,” Davis and Maher pitched Emax as a long-term investment to Davis’ thousands of Twitter, Instagram and Facebook followers during the token’s launch last May, while simultaneously cashing out their own holdings through secret wallets. According to allegations in a class action lawsuit and individuals who spoke withDavis, 41, runs InRussWeTrust, a paid newsletter and private Facebook group of 24,000 crypto enthusiasts.
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