Kim Kardashian, Floyd Mayweather Jr. Sued for Alleged Crypto Scam

Kim Kardashian and Floyd Mayweather Jr. were sued for allegedly scamming investors in a cryptocurrency called EthereumMax. From a report: The reality television star and ex-boxing champion were paid to hype the blockchain-based digital tokens to their fans, "causing investors to purchase these losing investments at inflated prices," according to the complaint filed in Los Angeles federal court. Former Boston Celtic Paul Pierce was also named as a defendant in the suit. Kardashian was called out in September by a U.K. financial regulator for luring her 250 million Instagram followers into the "cryptobubble with delusions of quick riches." Mayweather, one of his sport's most recognizable personalities, has previously run afoul of regulators for promoting cryptocurrency investments. He was fined by the U.S. Securities and Exchange Commission in 2018 for touting initial coin offerings on social media without disclosing that he'd been paid to do so.

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