If you think Ethereum is in trouble you should see prices for Ethereum Max (EMAX), the Ethereum – based token that made headlines last summer thanks to the endorsements of celebrities like Kim Kardashian, boxer Floyd Mayweather and former NBA star Paul Pierce.
Now these three celebrities are being sued by an unfair investor, who claims to have colluded with EMAX co – founders Steve Gentile and Giovanni Perone to get the price of the token and sell it, causing the holders of the small ones to lose their investment.
Defendants have met the company’s expectations and the ability of investors to achieve significant returns through the ” favorable tonality of EMAX signalsHuegerich, who filed a complaint in the U.S. District Court in California, said. ” In fact, the defendants marketed the EMAX tokens to investors so that they could sell their share of the float for a profit. »
Ethereum Max peaked at $ 0.000000597636 at May 31, 2021, before falling more than 80% in 11 days. He then ran a minor in mid – June, around Kardashian’s post time, before falling even lower. Having reached an all-time high, it has lost over 97% of its price; it sells today for an even unlimited price of $ 0.000000017659.
Huegerich bought EMAX tokens between May 14 and June 17 and wants to become a major plaintiff in class action law.
The ERC-20 token first appeared in crypto consciousness when Mayweather arrived at the Bitcoin 2021 conference in Miami in June. wearing an Ethereum Max t-shirt. EMAX was sponsoring a boxing match that month between Mayweather and Logan Paul. In 2018, Mayweather was fined by the U.S. Securities Commission for promoting initial cryptocurrency offerings without disclosing that he was paid to do so.
The following week, Kim Kardashian was accused of promoting an initial coin offering after she shared an Instagram story with over 200 million followers in which she visited Ethereum Max using the hashtag #AD to say that it was an announcement.
” Are you guys in encryption ???“, Can we read on screen. ” This is not financial advice, but I am sharing what my friends told me about the Ethereum Max sign! A few minutes ago, Ethereum Max burned 400 trillion tokens – literally 50% of its administration wallet – to bring them back to the entire E-Max community. »
Pierce was intrigued enough by the burning EMAX token (which contains signals effectively destroyed to limit supply and stimulate demand) burning all remaining bridges with his former employer, ESPN, which Pierce fired as an analyst after controversial video publishing. .
.@espn I do not need you. I got @ethereum_uas I made more money with this crypto in the last month and did with y’all in a year. Free TRUTH will send you 🤪🤪 my own bosshttps: //t.co/3irnuWYve3 check out for yourself
—Paul Pierce (@ paulpierce34) May 26, 2021
While the project maintains a presence on Twitter and social media, Ethereum Max has almost disappeared from the public eye, having handled less than $ 150,000 in trading volume in the past 24 hours.