{"id":55662,"date":"2022-01-11T10:29:29","date_gmt":"2022-01-11T08:29:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=55662"},"modified":"2025-09-04T02:42:27","modified_gmt":"2025-09-03T23:42:27","slug":"lawsuit-against-floyd-mayweather-and-kim-kardashian-over-ethereummax-promotion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/lawsuit-against-floyd-mayweather-and-kim-kardashian-over-ethereummax-promotion\/","title":{"rendered":"Lawsuit against Floyd Mayweather and Kim Kardashian over EthereumMax promotion"},"content":{"rendered":"<p>An investor filed in the Central District of California a lawsuit against boxer Floyd Mayweather, model and actress Kim Kardashian, and former NBA star Paul Pierce. The suit centers on their involvement in promoting the EthereumMax altcoin (EMAX), Law360 reports.<\/p>\n<p>According to the plaintiff, the celebrities conspired with project organizers Steve Gentile and Giovanni Perone to push up the token price.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The defendants touted the company&#8217;s prospects and investors&#8217; ability to earn substantial returns thanks to the favorable &#8216;tokenomics&#8217; of EMAX. In reality, they promoted the tokens to sell their stake for profit,&#8221; the complaint states.<\/p>\n<\/blockquote>\n<p>The altcoin became widely known in late spring 2021. On May 26, Pierce posted on his Twitter \u2014 within a few days the price of EMAX reached a peak, after which it fell by more than 80% in 11 days.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">.<a href=\"https:\/\/twitter.com\/espn?ref_src=twsrc%5Etfw\">@espn<\/a> I don\u2019t need you. I got <a href=\"https:\/\/twitter.com\/ethereum_max?ref_src=twsrc%5Etfw\">@ethereum_max<\/a> I made more money with this crypto in the past month then I did with y\u2019all in a year. TRUTH shall set u Free \ud83e\udd2a\ud83e\udd2a my own Boss<a href=\"https:\/\/t.co\/3irnuWYve3\">https:\/\/t.co\/3irnuWYve3<\/a> check it out for yourself<\/p>\n<p>\u2014 Paul Pierce (@paulpierce34) <a href=\"https:\/\/twitter.com\/paulpierce34\/status\/1397628485917577217?ref_src=twsrc%5Etfw\">May 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In June<a href=\"https:\/\/u1f987.com\/en\/news\/floyd-mayweather-promotes-ethereummax-ahead-of-logan-paul-fight\"> Mayweather<\/a> appeared in a T-shirt bearing the EthereumMax logo at weigh-ins and a stare-down with blogger Logan Paul. Earlier the U.S. Securities and Exchange Commission fined the boxer $614,000 for promoting the Centra Tech ICO.<\/p>\n<p>Advertising for the token was also placed on Times Square in New York. At the time it traded on DEX Uniswap and 1inch, and was ranked 2,575th on CoinMarketCap.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/tl82Xw9GTPMjombF-OLOTJBMSEgd4KbuilaG79yGwy29y9a1ms4BBWpAdU4toTOXK90I0ZchCkRz52YsSM_Nm6Gtr90geWpKUJKNqLzeuACvn2E3-wcXlb3AcHt44b3dV6QF0Ddh\" alt=\"Lawsuit against Floyd Mayweather and Kim Kardashian over EthereumMax promotion\"\/><figcaption><meta charset=\"utf-8\">Source: <a href=\"https:\/\/coinmarketcap.com\/ru\/currencies\/ethereummax\/\">CoinMarketCap<\/a>.<\/figcaption><\/figure>\n<p>In mid-June EMAX rose again \u2014 this coincided with a <a href=\"https:\/\/decrypt.co\/73601\/kim-kardashian-is-shilling-ethereum-max-too-what-is-it\">publication<\/a> of Kardashian&#8217;s Instagram Stories. After that the coin headed downward and has fallen more than 97% since hitting its peak.<\/p>\n<p>In September, the head of the <span data-descr=\"UK Financial Conduct Authority\" class=\"old_tooltip\">FCA<\/span> Charles Randell<a href=\"https:\/\/u1f987.com\/en\/news\/fca-warns-of-tougher-regulation-of-the-crypto-industry\"> expressed concern about influencer promotions of cryptocurrency startups. In particular, he cited the EthereumMax promotion featuring Kardashian.<\/p>\n<p>According to the plaintiff, he purchased EMAX from May 14 to June 17. The investor urged other token holders to join the proceedings.<\/p>\n<p>Earlier, Oscar-winning actor <a href=\"https:\/\/u1f987.com\/en\/news\/matt-damon-becomes-ambassador-for-crypto-com\"> Matt Damon <\/a> became an ambassador for the Hong Kong-based cryptocurrency platform Crypto.com.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An investor filed in the Central District of California a lawsuit against boxer Floyd Mayweather, model and actress Kim Kardashian, and former NBA star Paul Pierce over their promotion of the EthereumMax altcoin (EMAX), Law360 reports.<\/p>\n","protected":false},"author":1,"featured_media":55663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[516,1162,26],"class_list":["post-55662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-advertising","tag-court-cases","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=55662"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55662\/revisions"}],"predecessor-version":[{"id":55664,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/55662\/revisions\/55664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/55663"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=55662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=55662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=55662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}