Kim Kardashian’s Crypto Promotion Called "Historic" By Regulator

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Never thought that reality star Kim Kardashian would make it into the speech of a financial regulator, but earlier this week that is exactly what happened.

I can only guess that Charles Randell, who heads up the UK‘s Financial Conduct Authority, was told to spice up his speech upon showing a first draft to his grandchildren. At least that is why I assume he all of a sudden decided to add Kim’s Instagram messages to his rather dull 30-minute speech that discussed the risks of token regulation(probably could have used some help on the title as well).

Financial history

Good ol’ Charles claimed that Ms Kardashian made financial history when she was:

Paid to ask her 250 million Instagram followers to speculate on crypto tokens by joining the Ethereum Max Community.

Given the sheer size of Kim’s audience, Charles claimed that:

It may have been the financial promotion with the single biggest audience reach in history.

FCA Chair Charles Randell said that Kardashian’s Instagram post “may have been the financial promotion with the single biggest audience reach in history.” #cryptocurrencies https://t.co/qs2Q9hwte2

— Vicky McKeever (@VMcKeeverCNBC) September 7, 2021

Of course, I can’t say whether this particular token is a scam. But social media influencers are routinely paid by scammers to help them pump and dump new tokens on the back of pure speculation. Some influencers promote coins that turn out simply not to exist at all.

I rather doubt that Kim’s crypto promotion will make it into the next chapter of any Niall Ferguson book on the financial history of the 21st century, but at least Charles gave it a try.

As to the value of EthereumMax or Emax, he was correct that Kim’s promotion provided a spike indeed. Ever since then, not much going on though.