Class action against Kim K, Mayweather over EMAX dismissed… for now
A federal judge in California has dismissed a class action lawsuit against reality TV star Kim Kardashian, boxing champ Floyd Mayweather and the founders of EthereumMax, explaining that the submissions failed to meet the “heightened pleading standards” for fraud claims. The judge has, however, left room for the plaintiffs to refile the proposed class action […]
More laws are the solution for taking down crypto influencers
However, the crypto space is notoriously fickle, and the collapse of once-established companies such as Celsius and FTX are stark examples of how people can lose billions of dollars in crypto assets almost overnight. For this reason, celebrity influencers should be thoroughly educated on a crypto product before promoting it. With so much at stake, […]
19 celebrities called out by consumer watchdog group for shilling NFTs
Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects. The not-for-profit consumer advocacy organization said on their website they investigated “celebrities who promote non-fungible tokens (NFTs) on their social media channels”, finding that “it is an area rife with […]
Nifty News: Mayweather returns to crypto ring after legal KO… Reef gets NFTs
Legendary boxing champion Floyd Mayweather is taking another jab at the crypto space by launching a new NFT and Metaverse project called the Mayweverse. The nonfungible tokens (NFT) will feature the likeness of Mayweather himself and provide various utilities and prizes for holders depending on the rarity of the item. Little more is known about […]
Almost half of crypto owners turn to celebs like Kim Kardashian for advice: Survey
A new survey has revealed bleak insights into the apparent willingness of retail investors to follow digital asset advice from the social media accounts of celebrities and influencers. According to a Morning Consultant survey of 2,200 U.S. adults, 45% of crypto-holding respondents indicated they would be likely to seek exposure to a digital asset if […]
Co-founder of Floyd Mayweather-promoted ICO sentenced to 8 years
Sohrab Sharma, the co-founder of the notorious celebrity-spruiked initial coin offering of 2017, Centra Tech, has been sentenced to eight years in prison for his leading role in the fraudulent scheme that duped investors out of more than $25 million. Shama had previously pled guilty to conspiring to commit wire fraud, securities fraud, and mail […]