Share to Twitter Share to Linkedin Topline Kim Kardashian on Monday agreed to pay a $1.26 million fine to settle charges brought against her by the U.S. Securities and Exchange Commission for promoting the cryptocurrency EthereumMax without disclosing the fact that she was being paid for the promotion. Key Facts In a press release , the SEC said its investigation found Kardashian had received $250,000 to promote the cryptocurrency on her Instagram account, a fact she failed to disclose. Aside from the financial penalty, Kardashian has agreed not to promote any crypto assets for three years. This is a developing story. … [Read more...] about Kim Kardashian Agrees To Pay $1.26 Million To Settle SEC Cryptocurrency Promotion Charge
Share to Twitter Share to Linkedin Key takeaways Kim Kardashian will pay a fine of $1.26 million for not disclosing to her Instagram followers that she was financially compensated for promoting EthereumMax. This could be a sign that the SEC will introduce further regulations on the cryptocurrency space. The SEC published a video urging the public to think twice before taking investment advice from celebrities and influencers. In rather surprising news, Kim Kardashian was fined by the SEC for her alleged involvement in a cryptocurrency “pump and dump” scheme because she didn’t disclose that she was financially compensated for the ad. The news was unexpected because many celebrities and athletes have been eager to promote new coins hitting the market over the past few years. Celebrity crypto endorsements have come from the likes of Matt Damon, Tom Brady, and Gwenyth Paltrow, to name a few. They’ve promoted everything from cryptocurrency … [Read more...] about Kim Kardashian Fined For Cryptocurrency Promotion, Here’s What It Means For Crypto
Share to Twitter Share to Linkedin ByteDance and Tencent-backed apps have been inundating Facebook and Instagram with troubling, graphic ads for violent fantasy erotica. At least 81 people have died in Florida due to Hurricane Ian. Plus, Forbes breaks down how Elon Musk became the world’s richest man by a whopping $100 billion margin . Sign up here to get the Forbes Daily Dozen morning newsletter straight to your inbox. In The News Today The U.K. government confirmed Monday it will scrap its controversial plan to cut the top 45% rate of income tax after the policy, which would have benefited the country’s wealthiest 1%, drew international condemnation, roiled markets and pushed the pound to record lows. The pound jumped against the dollar following the news of the reversal. Brazil’s far-right presidential incumbent Jair Bolsonaro garnered more votes than expected in the first round of Brazil’s presidential election, … [Read more...] about Daily Dozen | Forbes: 100 Days Post-Roe; Kardashian Crypto Fine; Brazil’s Run-Off Vote
Share to Twitter Share to Linkedin Topline Shares of Credit Suisse plunged to an all-time low Monday as investors traded on concerns about the Swiss banking giant’s financial health and management’s ability to restructure the institution in a manner that would satisfy skeptics who believe the bank’s capital position is at great risk–which is sparking whispers of a so-called ‘Lehman Brothers moment.’ Key Facts Credit Suisse shares fell to an all-time low of $3.70 Monday in New York before recovering to $4.01 and fell as much as 5% in Zurich as investor confidence in the Swiss banking giant continues to fall as its capital position is being questioned after months of falling profits. The bank is working to restore confidence with CEO Ulrich Körner writing in a Friday note to employees (which was viewed by Forbes and shared earlier with other outlets) not confuse the company’s “day-to-day stock price performance with the strong capital base and … [Read more...] about Credit Suisse Shares Tank As Capital Concerns Spark Reminders Of Lehman Brothers Failure: Here’s What We Know
Share to Twitter Share to Linkedin Just a few months ago, Kremlin bureaucrats were as cold to the idea of cryptocurrencies as winter in Siberia. Then came the invasion of Ukraine and sanctions by a large swath of countries that crippled Russian access to the world banking system. All of a sudden, an anonymous, low-cost method of making payments across international borders and one that also threatened the dollar’s privileged position as the world’s reserve currency stopped seeming like such a bad idea. Now Moscow is actively turning to crypto, planning a digital rouble early next year as it seeks to modernize its financial system and increase its clout in the global financial system. Meanwhile, the European Union has other ideas and last week tightened restrictions on Russia’s cryptocurrency presence. “The topic of digital financial assets, the digital rouble and cryptocurrencies is currently intensifying in society, as Western countries are … [Read more...] about Russia Warms To Crypto In Quick About-Face
Share to Twitter Share to Linkedin As the new month begins, investors have been closely watching macroeconomic developments and central bank policy decisions at a time when bitcoin continues to trade within a relatively modest range. The world’s most well-known digital currency has been fluctuating between roughly $18,950 and $19,650.00 since the start of October, TradingView figures reveal. Around 3:00 p.m. ET today, it reached the upper end of this range, additional TradingView data shows. Since then, it has pulled back very slightly, trading close to $19,600 at the time of this writing. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Analysts highlighted several key variables that crypto investors should watch going forward in order to stay on top of the traditionally volatile digital currency markets. … [Read more...] about What Do Bitcoin Investors Need To Know As October Begins?
A non-fungible token (NFT) displayed on the website of NFT marketplace OpenSea is seen through a magnifying glass, in this illustration picture taken February 28, 2022. REUTERS/Florence Lo/Illustration A new NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-million-dollar lifeline for speculators shivering in the bleak crypto winter. “Domain” names such as coin.crypto (which has sold for $100,000) and beer.eth (which fetched $39,000) are a new breed of NFTs that owners can use to replace the jumble of 16 random numbers and letters that form their digital wallet addresses. It might seem a lot of money for the crypto equivalent of a custom car plate, yet backers say these names could become valuable real estate in the years to come with the advent of Web3, a much-hyped vision of a future internet built on blockchain. Right now the trading market for these alternative assets is providing rich – and risky – pickings for some investors who … [Read more...] about Trading names in a mind-boggling crypto craze