Kim Kardashian accused for promoting a fraudulent cryptocurrency!
Kim Kardashian is an American socialite, media personality, and is one of the most celebrated and popular personalities around the world. Any kind of activity they do, the attentions towards the activity is massive. As she had an impressive fan following, she was connected with EthereumMax to promote about the token in her social media channels. Generally, the fans or the admirers of such people blindly follow these personalities, and sometimes end up in a mess.
In one such instances, Kim Kardashian was asked to promoted about a cryptocurrency. As the many of her admirers went ahead and bought the token, the token was dumped, losing 70% of its value, leaving the investors in distress. As the investors got angry, they went on to blame Kim Kardashian for dumping Ethereum Max on investors. Along with Kim, Floyd Mayweather and Paul Pierce were also blamed. One of the plaintiff, Huegerich, went on file a lawsuit, accusing the defendants of promoting the company as one of the great prospects and high return margins.
But, as the case moved further, Kim Kardashian in particular, filed a motion in U.S District Court, to prove her innocence and have the complaint against her taken off.
Kim Kardashian’s defense!
In the lawsuit from Friday, Kim Kardashian asserts that the token purchasers are only relying on two of her Instagram postings and that the famous person didn’t offer investing advice in those posts. She added that, none of the accuser, mentioned that, they went on to buy the coin, after seeing her posts about the cryptocurrency. She concluded by saying that, the post was not giving any kind of financial advice.
Let’s look at the different stand points of the situation!
From the standpoint of investors, the accusations might seem to be appropriate as Kim is a famous personality and has the capability to influence a lot of people. But, if we analyze the situation critically, the investors are to be blamed for not doing a proper market study about the coin and blindly following the post. From Kim’s standpoint, her motion filing is justifiable as she clearly mentioned it was not a post that was giving financial advice. Maybe she promoted it out of her own interest.
We see many such situations occur, when an influencer, or a celebrate personality is being accused of for promoting something which doesn’t go down well with the end users. This is not the first instance for Kim, where she’s facing a lawsuit for promoting a product. Many beauty product users and even companies have filed many lawsuits on her name for various reasons.
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Share your views on who do you think is right in this situation? Would you buy any product, just because an influencer is promoting it? Share your views in the comments below.
