Kim Kardashian agreed to pay the SEC $1.3 million — a warning shot from the watchdog to crypto-promoting celebrities
that says people touting investments must disclose if they're paid to do so, and say specifically how much they were paid.
"This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn't mean that those investment products are right for all investors," he said. In February, another class-action lawsuit accused celebrities including YouTuber Jake Paul, rappers Lil Yachty and Soulja Boy, and former Backstreet Boys member Nick Carter ofThe SEC's settlement with Kardashian is the first sign that the regulator will crack down on celebrities accused of taking part in those sorts of schemes, analysts said.
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