Court Certified Class Action Against Celebrity Promoters
A federal court granted class certification in litigation over EthereumMax, a crypto token promoted by celebrities.
Updated on Sept. 24, 2026 in Financial Crime
Live Poll
Do you trust investment advice provided by celebrities on social media?
Following SEC charges in October 2022, a federal court granted partial class certification on August 7, 2025, for lawsuits targeting celebrity promoters of the EthereumMax token. The litigation centers on the failure to disclose payments for endorsements of the digital asset.
Why it matters
The case highlights the legal risks associated with celebrity-backed cryptocurrency schemes that failed to provide transparency to investors. By granting class certification, the court enables approximately 100 plaintiffs to pursue combined losses exceeding $5 million.
A federal judge granted partial class certification on August 7, 2025, for plaintiffs in California, New York, Florida, and New Jersey. This follows a June 2023 ruling that allowed claims against Kim Kardashian, Floyd Mayweather Jr., and Paul Pierce to proceed.
The players
Kim Kardashian
She is a reality television personality and influencer who was fined $1.26 million by the SEC for failing to disclose payments received for promoting the EthereumMax token.
Floyd Mayweather Jr.
He is a retired professional boxer who faces ongoing legal claims regarding his promotional work for the EthereumMax crypto project.
Paul Pierce
He is a former professional basketball player who is named as a defendant in the class action litigation concerning his endorsement of EthereumMax.
Justin Maher
He is a co-founder of EthereumMax who allegedly sold 98% of his token holdings while the project recruited celebrity endorsements.
The details
EthereumMax launched in May 2021 with 2 quadrillion tokens, utilizing celebrity endorsements to induce price spikes through a manipulated liquidity pool. While Kim Kardashian paid a $1.26 million fine for failing to disclose a $250,000 promotion payment, current trading values for the token remain 99.97% below their all-time high.
Timeline
May 12, 2021: EthereumMax token launch
October 2022: SEC charged Kim Kardashian
June 6, 2023: Judge allowed claims to proceed
August 7, 2025: Court granted partial class certification
September 24, 2026: Trading value remains 99.97% below all-time high
Legal Context
This litigation follows the regulatory precedent set by the 2022 SEC enforcement action against Kim Kardashian regarding crypto disclosures. The case marks a shift as the judiciary continues to refine how celebrity liability is applied to digital asset promotion.
The certification of this class action establishes a legal pathway for investors to potentially recover funds from promotional schemes. Residents in the involved states should monitor court dockets for future participation deadlines as the litigation moves toward trial.
The takeaway
Investors should remain skeptical of tokens promoted by celebrities who fail to provide clear financial disclosures regarding their paid endorsements. Always perform independent research on the liquidity and utility of crypto assets before committing personal capital.
Further reading
For more information on regulatory actions in the digital market, visit Financial Crime.
Source note: This article includes information reported by FinanceFeeds.
Live Poll
Do you trust investment advice provided by celebrities on social media?
