Kim Kardashian will pay $1.26 million in a crypto-related fine to the SEC. Here are other high-profile celebrities who have backed recent crypto ventures.




Kim Kardashian at the World Trade Center on June 21, 2022.Raymond Hall/GC Images
Kim Kardashian at the World Trade Center on June 21, 2022.Raymond Hall/GC Images  
  • Kim Kardashian agreed to pay the SEC $1.26 million related to an Instagram post promoting crypto.

  • While most celebs have gone silent on crypto assets as prices collapse, Kardashian isn't the only star who touted it in recent years.

  • See other celebrities who have publicly backed crypto, from Lebron James to Larry David.

Kim Kardashian will pay a hefty fine linked to a crypto promotion that the SEC said broke its rules.

Kardashian settled with the agency for $1.26 million after she promoted EthereumMax on Instagram in June 2021 and failed to disclose that she was paid $250,000.

"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," SEC Chair Gary Gensler said

The price of bitcoin and other crypto assets, including NFTs, has collapsed since surging to new highs in 2021.

While most celebrities have fallen silent on their support for crypto in recent months, Kardashian was not the only mega-celebrity who publicly backed a crypto-related asset over the past two years. Check out some other notable examples.

Matt Damon

Matt Damon Crypto.com commercial
Matt Damon Crypto.com commercial  

Matt Damon's first foray into cryptocurrency came with a Super Bowl commercial for Crypto.com earlier this year.

The commercial went viral for comparing cryptocurrency to some of humankind's greatest achievements, like the invention of the airplane or space exploration.

If people invested in crypto after seeing Damon's commercial when it first aired, their investment would be down significantly today.

 

Reese Witherspoon

Reese Witherspoon
Reese Witherspoon  

In December 2021, the actress tweeted, "crypto is here to stay. I'm committed to supporting creators who have pioneered the NFT space and encouraging more women to be a part of the conversation."

Earlier this year, Witherspoon's media company, Hello Sunshine, announced a partnership with World of Women, an NFT collective with artwork from women creators.

As part of the partnership, Hello Sunshine will use NFT characters in films and TV series, Variety reports.

Tom Brady

FTX crypto commercial featuring Tom Brady
FTX crypto commercial featuring Tom Brady  

Tom Brady regularly promotes cryptocurrency projects, even changing his profile picture on Twitter to the laser eyes meme, a symbolic way to show support for Bitcoin.

Brady co-founded an NFT agency called Autograph, which raised $170 million in Series B funding.

In April this year, Brady purchased a Bored Ape NFT, a favorite amongst celebrities, for $430,000.

Naomi Osaka

Naomi Osaka wears an FTX patch at the US Open
Naomi Osaka wears an FTX patch at the US Open  

In May of this year, FTX announced that Naomi Osaka would become an ambassador for the crypto exchange, joining other famous athletes like Tom Brady and Steph Curry.

Osaka now wears a patch with the company's name while playing professional tennis as part of the partnership.

Jimmy Fallon

Jimmy Fallon shows off his Bored Ape NFT
Jimmy Fallon shows off his Bored Ape NFT  

Jimmy Fallon has been an enthusiastic backer of Bored Ape NFTs, even briefly changing his profile picture on Twitter to his Bored Ape avatar and discussing the NFTs on his NBC late-night talk show, "The Tonight Show." Fallon owns at least two other NFTs, as well.

Post Malone

Post Malone performs at the Rock in Rio music festival in Brazil on September 4, 2022.
Post Malone performs at the Rock in Rio music festival in Brazil on September 4, 2022.  

Post Malone is another backer of Bored Ape Yacht Club NFTs. Last fall, the musician purchased two Bored Apes for $700,000.

He featured the two Apes in the music video for his song "One Right Now" with The Weeknd.

Larry David

FTX commercial starring Larry David
FTX commercial starring Larry David  

This year, Larry David starred in a Superbowl commercial for FTX that hinted to viewers to invest in cryptocurrency.

After the price of crypto started collapsing, Jeff Schaffer, David's longtime collaborator and the director of the commercial, told the New York Times that neither he nor David knew much about crypto.

"Unfortunately, I don't think we'd have anything to add as we have no idea how cryptocurrency works (even after having it explained to us repeatedly), don't own it, and don't follow its market," he said. "We just set out to make a funny commercial!" he said.

Floyd Mayweather Jr.

Floyd Mayweather.
Floyd Mayweather.  

Mayweather Jr. has promoted crypto for years, but more than once, he found himself in hot water for his promotional methods.

CNN reports that the pro-boxer was sued along with Kim Kardashian for his promotion of EthereumMax, though a settlement for his participation has not yet been announced.

In 2018, Mayweather Jr. agreed to pay the SEC more than $600,000 in fines for failing to disclose payments he received for promoting several ICOs, or Initial Coin Offerings.

Stephen Curry

FTX commercial with Stephen Curry
FTX commercial with Stephen Curry  

Steph Curry has starred in commercials for FTX as an ambassador for the exchange.

Last year, Curry told Bloomberg that he believed crypto could be leveraged for economic opportunity and social mobility.

Curry also owns a Bored Ape NFT, which he bought for $180,000 last summer.

Lebron James

Lebron James in a Crypto.com commercial
Lebron James in a Crypto.com commercial  

LeBron James and the LeBron James Family Foundation announced a multi-year partnership with Crypto.com earlier this year. James starred in a commercial for the company, in which he had a conversation with his younger self about the future.

Mila Kunis

Mila Kunis
Mila Kunis  

Mila Kunis has expressed her desire to push women to invest in NFTs, calling crypto a "very masculine area" on a podcast with Conan O'Brien.

Kunis produced a show called "Stoner Cats," which can only be viewed by people who buy one of the show's NFTs. Vitalik Buterin, who co-founded one of the largest cryptocurrencies, Ethereum, voices one of the characters on the show.

Snoop Dogg

Snoop DoggNoam Galai/Getty Images for SiriusXM
Snoop DoggNoam Galai/Getty Images for SiriusXM  

Snoop Dogg entered the world of crypto early.

He embraced Bitcoin back in 2013, tweeting, "My next record available in bitcoin n delivered in a drone."

Earlier this year, the musician announced that he planned to turn Death Row Records, a record label he bought earlier this year, into an "NFT label."

Madonna

Madonna
Madonna  

Earlier this year, Madonna teamed up with Beeple, the digital artist whose NFT sold for $69 million in an auction, to release a graphic NFT collection that includes NSFW images of the Queen of Pop giving birth to a tree.

The images, which were auctioned in May amid the collapse in crypto prices, sold for significantly less than expected, according to the New York Post.

Paris Hilton

Paris Hilton on the Tonight Show taking about NFTs
Paris Hilton on the Tonight Show taking about NFTs  

Paris Hilton went all in on NFTs during the past two years, but she has invested in crypto for years.

In April 2021, Hilton launched her own NFT collection, with one selling for over $1.11 million, according to CNBC.

Hilton once told The Guardian that she owns more than 150 NFTs.

Mindy Kaling

Mindy Kaling attends the 2022 Met Gala.
Mindy Kaling attends the 2022 Met Gala.  

In January, Fortune reported that Kaling signed on to become an "entertainment advisor" to notable cryptocurrency investor Katie Haun.

Kaling also invests in bitcoin mining company TeraWulf.

Justin Bieber

Justin Bieber attends the 2022 Grammys.
Justin Bieber attends the 2022 Grammys.  

In January of this year, Bieber purchased a Bored Ape NFT for $1.29 million, well higher than the asking price, according to Bitcoin.com.

Bieber is also an investor in crypto fintech startup MoonPay, which also counts Gwyneth Paltrow, Snoop Dogg, and Ashton Kutcher as stakeholders.

COMMENTS

More Related News

"10 Grand Later...": People Are Sharing The Worst Financial Mistake Of Their Lives, And My Stomach Hurts
"10 Grand Later...": People Are Sharing The Worst Financial Mistake Of Their Lives, And My Stomach Hurts

"I thought I was helping a boyfriend through a rough time with his business. In reality, I was giving him the down payment on a house for him and his wife...

Jiang Zemin: China says goodbye to former leader
Jiang Zemin: China says goodbye to former leader

A grand ceremony was held for the former leader in Beijing's Great Hall of the People.

Kim Kardashian gets restraining order against man claiming to speak with her telepathically
Kim Kardashian gets restraining order against man claiming to speak with her telepathically
  • US
  • 2022-12-06 04:26:08Z

Kim Kardashian has been granted a restraining order against a man who has been trying to get in contact with her and claimed to speak with her telepathically...

China protests: Why is it struggling to vaccinate the elderly?
China protests: Why is it struggling to vaccinate the elderly?

China has not vaccinated enough old people, making it difficult to abandon its zero-Covid policy.

George Clooney, Amy Grant, Gladys Knight, U2 receive Kennedy Center Honors
George Clooney, Amy Grant, Gladys Knight, U2 receive Kennedy Center Honors
  • US
  • 2022-12-04 21:31:49Z

WASHINGTON (Reuters) -Actor George Clooney, singer-songwriter Amy Grant, singer Gladys Knight, composer Tania León and rock group U2 were celebrated on...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy