Floyd Mayweather left the ring with an impeccable and peerless fifty wins and no loss. But he makes it a point to win battles outside the ring too. In January, Mayweather, reality television celebrity Kim Kardashian and Boston Celtics\u2019 Paul Pierce found themselves slapped with a case for distorting information they needed to share with cryptocurrency investors.<\/p>\n
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In January this year, the U.S. District Court for the Central District of California received a class action lawsuit, which by way of explanation, means a legal case filed by a group of people sharing a typical grievance. <\/span><\/p>\n ADVERTISEMENT<\/p>\n Article continues below this ad<\/p>\n<\/div>\n Cryptocurrency EthereumMax and its celebrity facilitators received square blame for overplaying token-price employing \u201cfalse or deceptive assertions\u201d on social media platforms<\/a>.<\/span><\/p>\n Finally, after months, a federal judge pushed the case aside. While expressing genuine concern and understanding over the financial loss suffered by the plaintiff, Judge Michael Fitzgerald highlighted that it is reasonable for an investor to check thoroughly where his money might end up. He said, <\/span>\u201cBut, while the law certainly places limits on those advertisers, it also expects investors to act reasonably<\/a> before basing their bets on the zeitgeist of the moment.\u201d<\/span><\/i><\/p>\n Further, ruling that in light of the \u201cgiven the heightened pleading standards<\/a>\u201d for fraud claims across the U.S., the assertions of the grieving party lacked adequate support.<\/span><\/p>\n The news soon grabbed hold of social media platforms. Twitterati just exclaimed what they felt meant being powerful.<\/p>\n ‼️‼️<\/p>\n “Floyd Mayweather and Kim Kardashian #crypto<\/a> lawsuits have been dismissed”<\/p>\n That’s the power of having power. (and being good looking people) 🥲<\/p>\n \u2014 Satoshi Stacker (@StackerSatoshi) December 8, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n Cheeky responses from the fans were aplenty. Many consider the win an outcome of the power celebrities wield.<\/span><\/p>\n Power literraly means just that. Having privilege\u2026<\/p>\n \u2014 Bars (@Bars0Bars) December 8, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n Floyd and Kim should hit it together.<\/p>\n \u2014 The Crypto Dude (@TheCryptoDude5) December 8, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n You think Kim and Floyd are good looking?<\/p>\n 💀<\/p>\n \u2014 TigerSlam.og 🤭 (@tiger_slam) December 8, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n Sounds familiar to verdict?<\/p>\n no one cares. \u2014 Franckisted (@franckisted) December 8, 2022<\/a><\/p>\n<\/blockquote>\n<\/div>\n It was not the first instance when both Mayweather<\/a> and Kardashian got into trouble for promoting cryptocurrency schemes.\u00a0<\/span><\/p>\n The U.S. Securities and Exchange Commission (SEC) accused Mayweather of encouraging a controversial crowdfunding method in cryptocurrency. Namely, initial coin offering or initial currency offering. Mayweather settled the case with the SEC by paying almost $600,000<\/a>. Albeit without admission or denial of the regulator\u2019s charges.<\/p>\n The head of the United Kingdom\u2019s Financial Conduct Authority expressed uncertainty about whether EthereumMax could be termed a fraud. He highlighted Kim Kardashian\u2019s commercial for the cryptocurrency on Instagram. He shared that <\/span>\u201csocial media influencers are often paid by scammers to assist them pump and dump new currencies<\/a> on the strength of sheer speculation.\u201d<\/span><\/i><\/p>\n ADVERTISEMENT<\/p>\n Article continues below this ad<\/p>\n<\/div>\n In 2021, Kardashian put a message on her Instagram handle, \u201cAre you guys into crypto??? This is not financial advice but sharing what my friends told me about the Ethereum Max token.\u201d <\/em><\/span>The \u201c#ad\u201d<\/em> at the end of her post indicated a sponsorship. However, it did not reveal the $250,000 she received from EthereumMax<\/a>.<\/p>\n Likewise, Mayweather reportedly pushed for EMAX in June 2021<\/a> at a boxing match and a big bitcoin conference.<\/span><\/p>\n ADVERTISEMENT<\/p>\n Article continues below this ad<\/p>\n<\/div>\n It should be worth noting that by January, the value of the cryptocurrency went down by 97%<\/a>.<\/span><\/p>\n Watch Out for More: The Money Lifestyle<\/a><\/strong><\/p>\n<\/div>\nNon mea culpa<\/strong><\/h2>\n
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Its the people fault for buying something cause it have kardashian name on it. DYOR ffs<\/p>\n![](\"https:\/\/image-cdn.essentiallysports.com\/wp-content\/uploads\/61ded4f114dba.jpg?width=150&blur=15\")
<\/div>\n<\/div>\nFloyd Mayweather and Kim Kardashian promote a risky endeavour<\/strong><\/h2>\n
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