Kim Kardashian West gets paid thousands of dollars for a single post on Instagram. And with her experience and influence, people wouldn’t think that she would promote or do any kind of business with sketchy companies.
However, Charles Randell, chair of the U.K.’s Financial Conduct Authority, warns social media users of her latest cryptocurrency ad.According to Randell, Kim’s paid advertisement of Ethereum Max is a “speculative” cryptocurrency.
UK’s financial watchdog said in a speech that Kardashian West had asked her more than 250 million Instagram followers to “speculate on crypto tokens by ‘joining the Ethereum Max Community,’” adding that her post “may have been the financial promotion with the single biggest audience reach in.
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