Floyd Mayweather and Kim Kardashian Sued for Allegedly Scamming Crypto Currency Investors

Published 01/12/2022, 10:30 AM EST
LAS VEGAS, NV – SEPTEMBER 14: Floyd Mayweather Jr. looks on as he takes on Canelo Alvarez during their WBC/WBA 154-pound title fight at the MGM Grand Garden Arena on September 14, 2013 in Las Vegas, Nevada. (Photo by Chris Trotman/Golden Boy/Golden Boy via Getty Images)


Floyd Mayweather is one of the most followed athletes on the planet. The boxing legend stays extremely active on his social handles, posting about life updates, vacations, boxing activities, and more. Also, biggies like Mayweather use their social handles to market some brands to their countless fan base.

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However, promoting brands puts such hotshots in a vulnerable spot at times. That said, Floyd Mayweather and Kim Kardashian recently found themselves in some trouble after they got sued for scamming investors in a cryptocurrency, known as EthereumMax.

Both Kardashian and Mayweather were paid to promote the block-chain based digital tokens to their vibrant fan base. According to a complaint filed in the Los Angeles federal court, it was mentioned, “causing investors to purchase these losing investments at inflated prices,”

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A UK financial regulator called the entertainment star back in September to entice her followers with this cryptocurrency endorsement.

Similarly, in 2018, Mayweather too was fined by U.S. Securities and Exchange Commission for some initial coin offerings on his social handle. Moreover, the boxing GOAT didn’t even reveal that he was paid to do so. Until now, Mayweather and Kardashian’s teams haven’t quite reacted on the same.

Bigwig personalities have pros and cons of living at such an elite level. That said, they also have to keep themselves in sync, thus keeping the fans up to date with all their life activities and endorsements. However, these endorsements end up putting them in trouble a few times.

How did Floyd Mayweather and Kim Kardashian find themselves in trouble due to EthereumMax?

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Per a note in the complaint, it was mentioned, “EthereumMax has no connection to the second-largest cryptocurrency, Ethereum.” 

Jun 3, 2021; Miami Beach, Florida, USA; Professional boxer Floyd Mayweather Jr. looks on after the face off with YouTube star Logan Paul at Villa Casa Casuarina. Mandatory Credit: Jasen Vinlove-USA TODAY Sports

Also, EMAX, in the lawsuit, is reported to be a “speculative digital token created by a mysterious group of cryptocurrency developers,”

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The above statements sum up why Floyd Mayweather and Kim Kardashian got into legal trouble. It’ll be interesting to see how things will pan out ahead in the matter associated with both Mayweather and Kardashian.

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Prathamesh Singh Chauhan

2498 articles

Prathamesh Singh Chauhan is a Boxing Author at EssentiallySports. He is a graduate from the International Institute of Sports Management who combines his love for sports, particularly combat sports, and his flair for writing and analysis to help him in his day-to-day work. He has prior professional experience with sporting organizations such as Star Sports, Khelo India, and NBA.

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