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    Investors sue Kim Kardashian and Floyd Mayweather Jr. over cryptocurrency schemes | Cryptocurrency

    Reality TV star Kim Kardashian and boxing champion Floyd Mayweather Jr. is one of the celebrities accused of promoting a “pump and dump” cryptocurrency scheme that investors claim to have lost money.

    according to Class action Ethereum Max executives filed in California court will work with Kardashian, Mayweather Jr. and basketball player Paul Pierce to enrich themselves by making “false misleading” statements to investors. It was made.

    The company’s promotion included an Instagram post to Cardassian’s 250 million followers, and Charles Randell, head of the Financial Conduct Authority in the United Kingdom, said that the “largest viewing of financial products in history.” It states that it may have had a “person reach”.

    Boxer Mayweather Junior Photo: Issei Kato / Reuters

    The proceedings claim that the value of the company’s EMAX tokens increased by 1,370% after the media marketing pandemic, before reaching a record low.

    By using celebrity nominations, EthereumMax executives said, “The favorable’tokenomics’ of EMAX tokens advertised the company’s outlook and the ability of investors to make significant profits.”

    Q & A

    What is a cryptocurrency?



    Cryptocurrencies are an alternative way to make payments to cash or credit cards. The technology behind it allows you to send “money” directly to others without going through the banking system. As such, they are not under government control and are not regulated by financial oversight agencies. And transactions can be done in a way that keeps you reasonably pseudonym.

    If you own a crypto asset, you control a secret digital key that can be used to prove to anyone on the network that a particular amount of that asset belongs to you. If you use it, you tell the entire network that you have transferred ownership of it and use the same key to prove that you are telling the truth. Over time, the history of all these transactions becomes a permanent record of who owns what. The record is Blockchain..

    Bitcoin Is one of the first and largest cryptocurrencies and has been rampant since its inception in 2009. As investors build up, their value can skyrocket, and in some cases collapse.I’m also watching Dogecoin, which started as a joke Increased value in the stratosphere..

    Skeptics warn that while the lack of central control makes crypto assets ideal for criminals and terrorists, Rivertarian monetarists enjoy the idea of ​​inflation and currencies without a central bank. ..

    The whole concept of cryptocurrency has been criticized for its ecological impact, and the new coin “mining” Huge energy reserves and associated carbon dioxide emissions For the entire system.

    Richard Partynton When Martin Vellum

    Thank you for your feedback.

    Instead, the proceedings are interested in inflating the value of their own tokens in order to sell them to the benefit of investors who end up holding artificially overvalued assets. Claims to have been.

    In a statement made through the company’s Twitter account, Ethereum Max dismissed the allegations.

    “The deceptive story associated with recent claims is full of false information about the Ethereum Max project,” he said. “We challenge the claim and look forward to revealing the truth.”

    Ethereum Max previously told the BBC that Kim Kardashian’s Instagram post was “just intended to raise awareness of the project and its usefulness.”

    Mayweather Jr. was allegedly promoting Ethereum Max at a cryptocurrency conference, and Paul Pierce, called Truth, posted on Twitter that the company made money for him.

    The Guardian is seeking comments from Kim Kardashian, Floyd Mayweather Jr. and Paul Pierce.

    Investors sue Kim Kardashian and Floyd Mayweather Jr. over cryptocurrency schemes | Cryptocurrency

    Source link Investors sue Kim Kardashian and Floyd Mayweather Jr. over cryptocurrency schemes | Cryptocurrency

    The post Investors sue Kim Kardashian and Floyd Mayweather Jr. over cryptocurrency schemes | Cryptocurrency appeared first on Eminetra.

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