The Return of the Crypto Controversy
Get ready for round two in the courtroom! Celebrity power players Kim Kardashian and Floyd Mayweather are facing the music again over their endorsement of the not-so-legendary cryptocurrency, EthereumMax (EMAX). Initially dismissed like a bad haircut in December 2022, the class-action lawsuit has resurfaced, raising eyebrows and stakes in the crypto world.
Judge’s Gavel Strikes Again
U.S. District Judge Michael Fitzgerald wasted no time in dusting off the complaint. On June 6, he recognized new claims of “unfair competition” against our favorite celeb duo. It seems their colorful endorsements just aren’t going to fade away easily. The federal judge cited that promoting crypto tokens without revealing they were paid could spell trouble—not just for them but for the enthusiastic fans who might fall victim to a “pump and dump” scheme.
Explaining the Unfair Competition Claims
According to Fitzgerald, the essence of the allegations rests on Kardashian, Mayweather, and NBA legend Paul Pierce allegedly cashing in by leading fans to a sinking ship of an investment opportunity. With a fresh 162-page complaint, Fitzgerald is steering this ship into untested waters, suggesting that this isn’t just the same old story with a few added plot twists.
The Celebrities’ “Get Out of Jail Free” Card
Despite their celebrity status, Mayweather and Kardashian seem to be devoid of persuasive arguments. Fitzgerald pointed out that they failed to provide any justification as to why endorsing unregulated products without disclosing payment is beneficial for consumers in any way. Spoiler alert: it’s not a good look. In his words, it’s pretty “unscrupulous.
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