I’m worried about Kim Kardashian, who was fined $1.26 million by the SEC for not disclosing she’d been paid to promote a crypto asset. How will she pay the mortgage now?
She wasn’t alone in the world of celebrities who promoted those pseudo-currencies in a Super Bowl commercial, on social media, and elsewhere. I’m talking about Matt Damon, Larry David, Paris Hilton, Reese Witherspoon, LeBron James, Jamie Foxx, Gwyneth Paltrow, and Ashton Kutcher — all of whom haven’t had much to say on the subject since the value of the crypto cons dropped considerably.
Bitcoin, for instance, has fallen from $65k to under $20k in the last year. Ethereum, which Kardashian plugged, is down 72% from its high 12 months ago.
Kardashian, of course, can withstand the loss of a small percentage of her wealth, but lots of regular folks who were suckered can’t afford it. I don’t expect the celebs to give them their money back, but a public apology would be a good start.
I’m so glad I invested all of my money in Ray’s House Of Raw Pork.