Kim Kardashian is making headlines today but not for good reasons.
The celebrity has been charged $1.26 million by the Securities and Exchange commission for unlawfully promoting a crypto asset on her Insta profile.
The SEC found that the star failed to disclose she was paid $250, 000 to post about the digital coin.
Chair Gary Gensler says this is a reminder that “when celebrities endorse investment opportunities, it doesn’t mean that those investment products are right”
Gensler warned investors to do their own research and analyse the risk involved based on their own financial goals.
Kardashian fully cooperated with the investigation and is not allowed to promote another crypto asset for three years.
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