How Crypto Twitter reacted to Kim Kardashian’s $1.26M SEC fine

Some pointed out the regulator’s supposed hypocrisy, others told crypto-influencers to lawyer up, whereas some poked fun at the reality TV star.

The crypto community reacted with a combination of disbelief and amusement when reality star Kim Kardashian was penalised for promoting the cryptocurrency EthereumMax (EMAX).

The U.S. Securities and Exchange Commission (SEC) penalised Kardashian $1.26 million in October. 3, for “touting on social media” regarding the EMAX while not revealing she was paid $250,000 to post regarding it.

Kardashian has neither admitted to nor denied the SEC’s allegations, however settled the costs and united to not promote any cryptocurrency assets till 2025.

SEC chairman Gary Gensler tweeted the fine was a reminder that celebrity endorsement of investment opportunities doesn’t “mean those investment merchandise are right for all investors.”

Following Gensler’s tweet, the web crypto community expressed their thoughts on the fine, with some line out the SEC for its inconsistent social control selections.

Economist Peter Schiff, best-known for his anti-Bitcoin (BTC) stance, realized what he perceived was an unfair targeting of Kardashian because the SEC hasn’t penalised MicroStrategy co-founder Michael Saylor who he believes has “more to gain pumping crypto.”

Saylor responded, expression Bitcoin isn’t a security however a commodity and its promotion would be “similar to promoting steel…or granite” and also the coin’s open protocol offers “utilitarian beliefs just like roads.”

Crypto-personality and author Layah Heilpern shared she believed “the SEC has larger problems nearer to home it ought to possible} focus on…” likely inferring the wide command belief within the community that US politicians have inside traded.

Pseudonymous developer 0xBender noted a distinction between the SEC’s heavy-handed treatment of crypto promotions from celebrities, whereas crypto-centric influencers “have been out here shilling you garbage for 0.2 ETH a tweet.”

Others like former federal prosecutor Renato Mariotti same influencers thinking of endorsing cryptocurrencies ought to “take note” because the regulator is showing it’ll “aggressively pursue social control actions,” and people who promote crypto while not considering the laws can “need to search out a decent professional.”

Meanwhile, Ethereum educator and capitalist Anthony Sassano told his followers he believes the SEC targeted Kardashian as a result of it creating the illusion the regulator is “doing something” regarding crypto scams and recommended it should’ve targeted the creators of EMAX instead.

Still, some saw the lighter aspect of finance in an exceedingly riotous and extremely speculative crypto token, with journalist Tyler Conway expression the star “got the total crypto experience” by losing more cash than she’d been paid.

Self-described hacker and school content creator Marcus Hutchins same Kardashian “would have gotten higher returns” in EthereumMax as it’s down 97% since her post, compared to the -80% the promotion returned for her.