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Kim Kardashian’s “Ethereum Max” Ad Was Seen by Third of Crypto Owners

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Wed, 09/22/2021 - 09:30
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Alex Dovbnya
Kim Kardashian might have pulled off the biggest cryptocurrency-related promotional campaign ever for a sketchy ERC-20 token called “Ethereum Max”
Kim Kardashian’s “Ethereum Max” Ad Was Seen by Third of Crypto Owners
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According to a recent poll by Morning Consult, roughly every third cryptocurrency holder saw Kim Kardashian’s infamous Instagram ad promoting “Ethereum Max.”

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Image by morningconsult.com

The billionaire socialite shared a story about the dubious cryptocurrency to hundreds of millions of followers in mid-June.

In her ad, she claimed that she had heard about the token from her “friend.”

The sketchy cryptocurrency has no white paper and lacks practically any developer activity.

Earlier this month, Financial Conduct Authority Chairman Charles Randell slammed Kardashian for using her enormous audience reach in order to promote the “speculative digital token.”

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Kardashian is not the only celebrity who has participated in the Ethereum Max promotional campaign. NBA star Paul Pierce and legendary boxer Floyd Mayweather also shilled the controversial ERC-20 token.

Morning Consult has found that nearly half of cryptocurrency owners pay heed to the advice of celebrities when making their investment choices.

Randell claimed that social media personalities often get paid by scammers in order to shill their tokens:

But social media influencers are routinely paid by scammers to help them pump and dump new tokens on the back of pure speculation. Some influencers promote coins that turn out simply not to exist at all.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.