Kim Kardashian shilling EthereumMax warned us crypto would collapse
Kim Kardashian pushed totally useless crypto EthereumMax (E-Max) onto her 200-plus million followers last week — just days before the entire market collapsed.
The reality star and tech mogul invited her Instagram fans to “join the E-Max Community” on June 14, according to Australian outlet B&T.
“Are you guys into crypto?” asked Kardashian in all caps. “This is not financial advice but sharing what my friends just told me about the Ethereum Max token!”
“A few minutes ago, Ethereum Max burned 400 trillion tokens — literally 50% of their admin wallet giving back to the entire E-MAX community.”
Kardashian tagged the post with #WTFEMAX and #DISRUPTHISTORY. The required disclosure (#AD) came at the very end.
EthereumMax is just SafeMoon
E-Max is effectively a clone of crypto Ponzi game SafeMoon.
Like SafeMoon, E-Max is a scheme promising to redistribute tokens spent among holders — in this case 3% of all transactions.
These pseudo-dividends, combined with endless token burns, are a ploy to imply scarcity with an ever-decreasing circulating supply.
E-Max’s site (plastered with its bogus Disrupt History slogan) says “proven tokenomics” and “community strong” backs the crypto.
Such claims have grown synonymous with crypto-powered Ponzi games over the past year.
A visual guide to celebrity shills
Indeed, tokens like E-Max and SafeMoon provide no real value or utility. They effectively live and die by the hype of publicity stunts (like celebrity endorsements).
According to CoinGecko, E-Max had lost up to 90% of its value in the fortnight after its debut on obscure platforms like HotBit and decentralized exchanges Uniswap and Sushiswap.
On May 28, E-Max issued a press release that stated it was ready to “disrupt Miami” by becoming the chosen crypto of a pair of local nightclubs.
E-Max could also be used to buy tickets to the exhibition fight between famed boxer Floyd Mayweather Jr. and YouTuber Jake Paul.
E-Max pumped over 19,500% in the two days following that press release.
Mayweather then wore a t-shirt bearing E-Max’s logo on stage at this year’s Bitcoin conference in Miami in early June. It didn’t inspire any positive price action.
Decrypt also reported fallen NBA legend Paul Pierce had tweeted twice about E-Max. Pierce told his followers E-Max generated more profit than a whole year of his lost ESPN gig.
“ESPN, I don’t need you. I got EthereumMax,” posted Pierce in May. “I made more money with this crypto in the past month then I did with ya’ll in a year. TRUTH shall set u Free, my own Boss [sic].”
[Read more: FBI ties and Ponzi games — here’s what SafeMoon doesn’t want you to know]
For the record, Pierce’s ESPN yearly salary was rumored to be about $1.5 million.
As for Kardashian’s impact on E-Max, the token is down 66% since her advertisement. So, anyone influenced is totally wrecked.