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Legal troubles for influencers promoting memecoin frauds
- Kim Kardashian has been fined $1.26 million for promoting a sketchy crypto-startup without proper disclosure.
- Elon Musk has been promoting Dogecoin but has not violated any laws so far.
- Laws around shilling crypto on social media exist to prevent manipulation and protect investors.
- Transparency and honest disclosure are crucial when influencers monetize their social media presence.
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