An unusual sequence of words popped into my mind this week: poor Kim Kardashian. At the risk of losing you before I’ve begun, I would like to ask that you spare a thought for a woman who is mainly famous for being famous (and for being rich).
It has emerged that this week Kardashian settled with the US Securities and Exchange Commission over the charge of “unlawfully touting” a “crypto security”, with a fine of $1.26mn, or about 0.07 per cent of her reported net worth of $1.8bn.?(Cue the sound of tiny violins.)
But it is not the size of the fine that I believe makes Kardashian worthy of a second thought, nor the suggestion that the charge could impinge on her ambitions to become a lawyer. It’s that the transgression she has been charged with is negligible when you compare it with the level of grift, dishonesty, exploitation and outright fraud that goes on every day, largely unpunished, in the world of crypto.
‘Enforcement 40’ for 2020
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