This Celeb Was Fined By SEC For Promoting Cryptocurrency?!

The Bert Show

Entertainment News, Society & Culture, Comedy, News

4.1 • 4.4K Ratings

🗓️ 4 October 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This Celeb Was Fined By SEC For Promoting Cryptocurrency?! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	The Bert Show.
0:07.0	Kim Kardashian is paying $1.26 million in a settlement agreement with the Securities
0:14.7	and Exchange Commission amid charges she unlawfully endorsed a cryptocurrency without disclosing
0:21.5	she was being paid for the promotion.
0:23.7	This is something she posted on Instagram and the federal security laws are clear that
0:28.5	any celebrity or other individual who promotes a crypto asset security must disclose the
0:34.3	nature, source and amount of compensation they received in exchange for the promotion.
0:39.1	She got paid $250,000 to do this Instagram post.
0:43.0	She did not disclose it.
0:44.6	Therefore she now must pay $1.26 million.
0:47.6	Isn't the FCC kind of defeating the purpose though because I saw it on ABC News this
0:53.4	morning and they pointed out the post with the name of the crypto.
0:57.4	They're getting advertising.
0:59.4	They're getting way more advertising than me and dollars.
1:03.2	Exactly.
1:04.2	Which is why I did not mention the name of it.
1:05.2	Yeah, but people are going to look at them.
1:08.0	And is this really going to hurt Kim Kardashian?
1:10.3	She's got $1.26 million in loose change in their drawer with all the extra soy sauce.
1:17.0	I have that.
1:18.0	I think that in my fridge though.
1:21.6	Do you?
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Bert Show, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Bert Show and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.