Businesswoman, reality TV star, and social media personality Kim Kardashian has posted an ad for mysterious cryptocurrency Ethereum MAX [EMAX].
In a post on her Instagram story – where she has 228 million followers – Kardashian wrote: “Are you guys into crypto????”
“This is not financial advice but sharing what my friends just told me about the Ethereum MAX token!”
Despite her assertion that she was informed by her friends about the cryptocurrency, the story also includes ‘#ad’.
It includes a link up to the Ethereum MAX site.
Kardashian’s post also reads, “a few minutes ago Ethereum MAX burned 400 trillion tokens – literally 50 per cent of their admin wallet giving back to the entire E-Max community.”
However, as pointed out by publication Bitcoinist, the organisation has “no whitepaper, proposal, a background section and if there is a team behind, there is nowhere to corroborate theirs identifies. The website is only a link to a Medium page, but there is no post explaining its tokenomics, objectives, or even if it’s based on Ethereum.”
Ethereummax is viewed as a more high-risk cryptocurrency, according to CNBC.
Ethereum (not Ethereum MAX) is a popular cryptocurrency, widely viewed as the primary competitor to Bitcoin.
Boxer Floyd Mayweather has also promoted Ethereum MAX, who sponsored his recent exhibition fight against YouTuber Logan Paul.
Ethereum MAX was founded one month ago according to its website, and uses the slogan ‘Disrupt History’.
The Kardashian clan has a long history of controversial sponsored posts, including promoting ‘flat tummy teas’ and ‘nutritional hair gummies’.
Kim Kardashian received particular backlash for promoting an ‘appetite-suppressing lollipop’ to her audience. The move was widely criticised as glamorising unhealthy weight loss goals to a largely young female audience.
She reportedly makes $300,000 to $500,000 USD for every sponsored Instagram post.
Featured Image: Instagram/@kimkardashian
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