Floyd Mayweather, Kim Kardashian, named In Crypto lawsuit
Those behind EMAX, as well as Mayweather, Kardashian, and former Celtic’s star Paul Pierce are being named.
A New Yorker by the name of Ryan Huegerich is taking Floyd Mayweather and Kim Kardashian to court for promoting what is being called a “pump and dump” scam involving cryptocurrency.
According to the complaint, which has been filed as a class-action suit in California, Huegerich and others “suffered investment losses as a result of Defendants’ conduct” involving EMAX cryptocurrency.
Those behind EMAX, as well as Mayweather, Kardashian, and former Celtic’s star Paul Pierce are being named. Huegerich claims these parties partook in “unjust enrichment” thanks to “aiding and abetting” the aforementioned pump and dump scheme.
Whether or not these allegations are true will be up to the court to decide. “The deceptive narrative associated with the recent allegations is riddled with misinformation about the EthereumMax (EMAX) project,” an EMAX representative informed Rolling Stone (which has reported on the story) via email.
“This project has prided itself on being one of the most transparent and communicative projects in the cryptocurrency space. We dispute the allegations and look forward to the truth coming out.”
Rolling Stone reports that “EMAX announced that it was the ‘exclusive cryptocurrency’ for buying tickets to the then-upcoming boxing match between Floyd Mayweather and Logan Paul — a pay-per-view event scheduled for June 6.
In a press release, the company provided a link to a fight website that listed a variety of perks for buying tickets with EMAX.” According to Rolling Stone, the lawsuit points out that “a couple days before the fight, on June 4th, Mayweather and members of his entourage wore EMAX t-shirts while attending a Bitcoin conference in Miami.” It also quotes Mayweather saying “there’s gonna be another cryptocurrency just as large as Bitcoin some day,” and wore an EMAX logo on his trunks during the Paul fight.
In an article before the Paul fight last June, Boxing Insider reported that Mayweather “seemed to have caught a few people by surprise when he sang the praises of cryptocurrency during an interview with Fox Business Network’s Susan Li. “Cryptocurrency,” he said. “It’s the new wave, it’s what everybody’s doing.”
Of course, singing the praises of cryptocurrency isn’t necessarily the same as taking part in an illegal scheme. “Everybody should have their own mind and choose what cryptocurrency they want to choose,” Mayweather told Li last year.
“What I believe in is being independent and doing what you wanna do and it’s about people winning in life. And I push people to be winners in life. Cause I’m a winner.”
