Discussion

• @garygensler Gary Gensler on x

  Today @SECGov, we charged Kim Kardashian for unlawfully touting a crypto security. This case is a reminder that, when celebrities / influencers endorse investment opps, including crypto asset securities, it doesn't mean those investment products are right for all investors.

• @propelforward Drew Hinkes on x

  While it's notable that @KimKardashian settled with the #SEC, it's more interesting to see that the consent order (once again) includes conclusory allegations that the token at issue was a security without the SEC bringing a claim vs the issuer or giving the issuer /1

• @ashleyrcarman Ashley Carman on x

  kim k's podcast finally drops, same day as kim k's crypto fine drops. who will win SEO https://twitter.com/...

• @malwaretechblog Marcus Hutchins on x

  How it started vs how it's going https://t.co/iOPbObApoK

• @renato_mariotti Renato Mariotti on x

  Kim Kardashian presented a very tempting target for the SEC. Because of this case, millions of people who didn't know much about the SEC now know about it. As an aspiring lawyer, she had every incentive to cooperate. Other celebrity crypto endorsers should take note. https://twit…

• @thestalwart Joe Weisenthal on x

  It's interesting that the SEC is going after piddly celebrity crypto pumps, but at the same time various shadow banks that held hundreds of millions of retail dollars etc. were given free rein

• @tante @tante on x

  The SEC charging Kim Kardashian for pushing crypto securities will make a bunch of people very nervous. https://www.sec.gov/... Good. Charge them all.

• @propelforward Drew Hinkes on x

  an opportunity to dispute the conclusions found in the consent order. While the consent order doesn't determine the the issue & has no precedential effect against the issuer, it maintains the pattern of “indirect enforcement” we saw with Wahi.

• @warrendavidson Congressman Warren Davidson on x

  Congress needs to provide regulatory clarity. It should be abundantly clear that @SECGov lacks the will, ability, or aptitude to honestly provide a brightline that empowers innovators & investors. Regulation by incoherent / inconsistent enforcement simply chases capital offshore.…

• @netcapgirl Sophie on x

  everything Chamath's doing is fine tho https://twitter.com/...

• @kylebrussell Kyle Russell on x

  But she is highly visible https://twitter.com/...

• @compound248 @compound248 on x

  Kingpin Kim was definitely the biggest threat that retail faced the past two years. DEFINITELY don't look at VC pumps. Definitely don't. https://twitter.com/...

• @shannonfreshour @shannonfreshour on x

  Her dream of being a lawyer gets further and further way.. She might pass the CA bar (which is hard as hell) but there's also the ethics portion and already had the Taylor illegal recordings issue, now a fraud-like SEC settlement. Good luck https://twitter.com/...

• @carnage4life Dare Obasanjo on x

  So you're telling me that of all of the celebrities and VCs promoted various NFTs and shitcoins over the past few years that the biggest one to take down was Kim Kardashian. Did the SEC even check Twitter or do they only enforce grifts on Instagram? https://www.cnbc.com/...

• @neerajka Neeraj K. Agrawal on x

  this should surprise exactly 0 people and i hope she executed whatever manager suggested she do it https://www.sec.gov/...

• @owillis Oliver Willis on x

  Stop ignoring crimes from the banks while trying to distract us with celebrity prosecutions https://twitter.com/...

• @silvermanjacob @silvermanjacob on x

  “including crypto asset securities” is the key phrase https://twitter.com/...

• @mattyglesias Matthew Yglesias on x

  Proud to say that my only involvement with crypto has been to lose a small amount of money. https://twitter.com/...

• @matthewstoller Matt Stoller on x

  The SEC fined Kim Kardashian for touting crypto. This is good. Celebrities need to be scared to deceptively sponsor sleazy products. https://www.sec.gov/...

• @silvermanjacob @silvermanjacob on x

  Seems worth noting: the SEC says that the EthereumMax investigation is ongoing. Floyd Mayweather and Paul Pierce are defendants, along with Kim K, in a class-action suit. https://twitter.com/...

• @silvermanjacob @silvermanjacob on x

  They're all securities.

• @emilyjnicolle Emily Nicolle on x

  Kardashian's Instagram post on EthereumMax “may have been the financial promotion with the single biggest audience reach in history” — Charles Randell, then chair of the UK's FCA, said last September https://www.bloomberg.com/...

• @ronwhammond Ron Hammond on x

  Very interesting for a lot of reasons, but timing of this news is one to consider. It is the first day of the new fiscal year, enforcement action before markets open (rare), and going after a popular celebrity. These comms rollouts are intentional for max media coverage. https://…

• @cgasparino Charles Gasparino on x

  This is what Wall Street's “Top Cop” now finds important? https://twitter.com/...

• @tomdwan Tom Dwan on x

  I def don't agree w many of sec or Gary's views I've seen around crypto. But eth max was a scam n this was a reasonably balanced vid imo. To me a framework that makes sense is try n only share stuff u believe in. But be willing to hear more or learn more if have more interest htt…

• @loopifyyy @loopifyyy on x

  Even whilst Kim Kardashian included “not financial advice” + “#ad” for promoting EMAX (she received $250K for it) she needs to pay the SEC $1.26M. A lesson for celebrities and influencers. No one is safe. https://twitter.com/...

• @loopifyyy @loopifyyy on x

  I imagine that she was charged because it's a security, so her NFA and #AD didn't save her. For other products and services it would be different. But maybe saying “not financial advice” was a lie all along that didn't help!

• @dpd_ Daniel D'Addario on x

  Get your ass up and unlawfully promote crypto without disclosing you're a paid spokesperson. It seems like nobody wants to break securities law these days. https://www.sec.gov/...

• @fintechfrank Frank Chaparro on x

  Too bad Kim didn't shill a coin actual crypto people care about like Solana or Avalanche because then Gensler would have to actually provide clarity on their security status

• @kimcrayton1 @kimcrayton1 on x

  Tech is not neutral nor apolitical... https://twitter.com/...

• @buccocapital @buccocapital on x

  Whoah. Genuinely wasn't expecting that. I hope a whole bunch of crypto grifters are starting to get nervous Matt Damon: “Sorry guys, I had to go see about a girl” https://twitter.com/...

• @kairyssdal Kai Ryssdal on x

  Fortune favors the br...oh, never mind https://twitter.com/...

• @eliotwb Eliot Brown on x

  SEC's Gensler has a gen-z-ish friendly video in conjunction with the charges https://twitter.com/...

• @milesdeutscher Miles Deutscher on x

  Kim Kardashian was just charged by the SEC for unlawfully touting a crypto security. She received $250k for an Instagram post to promote a token, without disclosing the paid nature of the post. Sets precedent for all celebrities and crypto “influencers” who promote tokens.

• @timobrien Tim O'Brien on x

  SEC charges Kim Kardashian for failing to disclose that she was paid to tout crypto on her social feeds. Tells her to disgorge more than $1 million. https://www.sec.gov/...

• @hsakatrades @hsakatrades on x

  Matt Damon meeting with his lawyers right now. https://twitter.com/... https://twitter.com/...

• @ivanthek @ivanthek on x

  Gary Gensler: Hold my beer. https://twitter.com/...

• @tier10k @tier10k on x

  She even put the ironclad NFA and #AD disclaimer but still got hit, no one's safe https://twitter.com/... https://twitter.com/...

• @jyarow Jay Yarow on x

  Kim Kardashian won't promote crypto for 3 more years. Could be good timing. Next 3 years might be tough for the industry. https://www.cnbc.com/...

• @mayazi Maya Zehavi on x

  It's like a mute point tbh. Kim's paying a $1.2m fine while the press Goop & her gang got out of their alpha group is worth 10 times that. -Why take 2 years to issue a fine for something that was apparent in real time & serves as no deterrent? - why single a Kardashian?

• @fatmanterra Fat Man on x

  This is honestly amazing. Influencers promoting scammy altcoins & NFTs for secret payments is a massive problem (it's indirect/obfuscated theft from their follower base). Very happy that these grifters are being brought to justice and hope there are more announcements to come. ht…

• @timccopeland Cope on x

  “Kardashian also agreed to not promote any crypto asset securities for three years.” Good times

• @mayazi Maya Zehavi on x

  Kardashian Crypto crackdown!?! I'm assuming the sec decided Kim is gonna be the poster girl for shilling unregistered securities. Honestly, I would have preferred getting Goop or Ashton Kutcher theft the top billing. https://twitter.com/...

• @danprimack Dan Primack on x

  Private equity executive charged by the SEC. https://twitter.com/...