- Kim Kardashian and boxer Floyd Mayweather Jr. have been accused of falsely inflating EthereumMax’s value.
- EthereumMax price today is US $4.14e-9.
- Ethereum Max initially had 2 Quadrillion tokens supply from the start, but this supply is continuously decreasing with time.
Bloomberg reported, ‘Kim Kardashian is accused of deceptively hyping the digital tokens of EthereumMax under her name in the crypto market, for which she has proposed dismissal.’
The latest legal battle involving the celebrities Kim Kardashian and boxer Floyd Mayweather Jr. is moving in an unexpected direction. They are accused of falsely hyping up the controversial cryptocurrency EthereumMax (EMAX).
The US District Judge Michael Fitzgerald rejected Kardashian’s plea to dismiss the lawsuit against her. The lawsuit blames Kardashian for engaging in misleading practices by falsely advocating EMAX tokens.
Public faces have a strong influence on people, and in this case, that influence leads investors to pay inflated prices for digital assets. However, Mayweather Jr. got a more lenient judgment. The investors were granted an opportunity to refile allegations against Mayweather, for failing to reveal that he was paid to promote EMAX.
During the judicial proceedings, Kardashian failed to convince the judge to throw out the lawsuit involving charges of making false claims about the EMAX cryptocurrency.
Floyd Mayweather Jr. fared better, with the judge deciding that his public statements regarding the growth of EMAX tokens were mostly harmless.
EMAX was designed and advertized as a progressive ERC-20 token on the Ethereum network.
Essence of the Culture Token
EMAX initially had its total supply of 2 quadrillion tokens from the start, but that circulating supply is continuously decreasing.
The reason can be attributed to the tokenomics with 0% tax on purchases, followed by a 6% tax on transfers and sales, 3% of which remains in the treasury while 3% is consumed every other week.
Starting a fresh and establishing EMAX never seemed like a biased pre-sale event as 100% of the tokens were released on the open market. The supporting fluidity for the project, and founder wallets got locked and verified as an agreed commitment to build and deepen trust within the community.
Live Pricing Analytics
At the time of writing, EthereumMax’s price is US $4.14e-9 while having a 24-hour trading volume of $1,187.95 USD.
The price decreasing percentage has gone down by 4.05% within a day. The current CoinMarketCap ranking is 6248th from the top,whereas the live ‘Market Cap’ and ‘Circulating supply’ are not available.
The maximum supply of EMAX coins is recorded as 2,000,000,000,000,000.
EthereumMax stocks’ present scenarios are Uniswap v2, and SushiSwap (Arbitrum) with current prices $8.38 per UNI-V2 and $0.746762 USD respectively.
Conclusion
The current lawsuit is a chance for investors to seek resolutions for the false advertising done by celebrity promoters like Floyd Mayweather Jr.and Kim Kardashian, and it is also a way to counter the co-founders and consultants of EMAX .