She was charged with unlawfully touting a crypto company without letting her 330,000,000 plus followers know how much cash she was getting in exchange for the Post.
IMG Credit - Social Media
IMG Credit - Social Media
The SEC explained in a press release, Kim is paying the fine without admitting to or denying their findings.
IMG Credit - Social Media
IMG Credit - Social Media
And if you are wondering how much Kim got paid for the Insta story post, thanks to the SEC, we've got the answer.
IMG Credit - Social Media
IMG Credit - Social Media
Drumroll, please.
$250,000.
a lot, yes? A quarter of a million dollars, people.
IMG Credit - Social Media
IMG Credit - Social Media
The SEC explained in a statement, "Federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion.
IMG Credit - Social Media
IMG Credit - Social Media
As for Kim Kardashian's settlement, it includes about $260,000 in disgorgement of Kim Kardashian's profit for the post, plus interest, as well as a $1 million penalty.