‘The Power of Having Power’: Internet Reacts as Boxing Legend Floyd Mayweather and Kim Kardashian Celebrate Big Win

Floyd Mayweather left the ring with fifty flawless and unmatched wins and no losses. But he is also committed to winning fights outside the ring. In January, Mayweather, reality television celebrity Kim Kardashian and the Boston Celtics’ Paul Pierce found themselves accused of distorting the information they were required to share with cryptocurrency investors.

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In January of this year, the US District Court for the Central District of California received a class action lawsuit, which by definition means a legal case brought by a group of people who share a typical claim.

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Cryptocurrency EthereumMax And Its Celeb Facilitators Received Full Blame For Exaggerating Token Price Usage “false or misleading claims” on social media platforms.

It’s not my fault

Finally, after months, a federal judge dropped the case. While expressing genuine concern and sympathy for the plaintiff’s financial loss, Judge Michael Fitzgerald emphasized that it is reasonable for an investor to carefully monitor where his money might go. He said: “But, while the law certainly places limits on those advertisers, it also expects investors to act reasonably before basing their bets on the current zeitgeist.

Furthermore, establishing that in the light of the “given the high standards of pleadingFor US fraud claims, the bereaved party’s claims lacked adequate support.

The news soon took hold of social media platforms. Twitterati just exclaimed what they thought it meant to be powerful.

The cheeky responses from fans have been abundant. Many consider the victory to be a result of celebrity power.

Sound familiar the verdict?

It was not the first case in which both Mayweather and Kardashian got into trouble for promoting cryptocurrency schemes.

The US Securities and Exchange Commission (SEC) has accused Mayweather of encouraging a controversial cryptocurrency crowdfunding method. Namely, Initial Coin Offering or Initial Currency Offering. Mayweather settled the case with the SEC by paying nearly $600,000. Albeit without admitting or denying the regulator’s accusations.

Floyd Mayweather and Kim Kardashian Promote a Risky Business

The head of the UK’s Financial Conduct Authority expressed uncertainty as to whether EthereumMax could be called a fraud. He highlighted Kim Kardashian’s cryptocurrency ad on Instagram. She shared it “Social media influencers are often paid by scammers to help them pump and download new currencies based on pure speculation.

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In 2021, Kardashian put a message on her Instagram account, “Do you like cryptocurrencies??? This is not financial advice, but sharing what my friends have told me about the Ethereum Max token.” The “#A.D” at the end of his post he indicated a sponsorship. However, he did not disclose the $250,000 he received from EthereumMax.

Likewise, Mayweather reportedly pushed for EMAX in June 2021 at a boxing match and a big bitcoin conference.

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It is worth noting that the value of the cryptocurrency decreased in January 97%.

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