How worried should Matt Damon be right now? Crypto Twitter reacts
14:35, 4 October 2022
The Crypto Twitter community is mocking Matt Damon and his Crypto.com ad after Kim Kardashian was fined $1.26m (£1.1m) by the US Securities and Exchange Commission (SEC) for not disclosing a payment she received for posting about crypto security tokens sold by EthereumMax.
Kardashian, the eighth most-followed person on Instagram, is said to have received $250,000 (£219,800) in exchange for promoting the token EMAX to her 330 million Instagram followers, but failed to disclose she had been paid to do so.
The post included a link to the EtheruemMax website with instructions on how to buy EMAX.
The chair of the SEC, Gary Gensler, said: “This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors.
“Ms Kardashian’s case also serves as a reminder to celebrities and others that the law requires them to disclose to the public when and how much they are paid to promote investing in securities.”
The SEC added that Kardashian will not be able to promote any crypto assets for three years.
ETH to USD
Should Jason Bourne be hiding from the SEC?
Damon who is famous for his lead roles in The Bourne Identity and The Martian received much attention on Twitter because he advertised cryptos for Crypto.com, a cryptocurrency exchange company based in Singapore back in October 2021.
In The Bourne Identity, Damon plays a former special agent with amnesia who is being hunted down by the CIA because his character was involved in a failed assassination attempt on an exiled African dictator, Nykwana Wombosi, played by Adewale Akinnuoye-Agbaje.
Twitter users have speculated that Damon, who is known for playing roles in action movies is now feeling scared of the SEC.
scary day to be Matt Damon pic.twitter.com/539SIjHFx5
— Morning Brew ☕️ (@MorningBrew) October 3, 2022
Another Twitter user jokingly said if Kardashian had to pay $1.26m “for pushing crypto” then Damon “should get the electric chair”.
If Kim Kardashian has to pay $1.3 million in fines for pushing crypto then Matt Damon should get the electric chair. ⚡???? pic.twitter.com/w7Qrm2pZga
— Charmin Sandiego (@JoelBrews) October 3, 2022
Others stated that Damon is now going to attempt to disguise himself so the SEC cannot find him.
Matt Damon's new disguise after the SEC fined Kim Kardashian for pumping crypto pic.twitter.com/YRuIXISYWY
— Chad (@TheWallStJunky) October 4, 2022
Another implied Damon will attempt to disguise himself as an older man.
What is your sentiment on ETH/USD?
matt damon waking up this morning & seeing the news about kimmy k pic.twitter.com/pCkGFegaAf
— Kenneth Dredd (@KennethDredd) October 3, 2022
Crypto.com’s campaign
The Crypto.com ad campaign aired in more than 20 countries with the aim of formally introducing the platform to consumers around the world.
The advertisement, called “Fortune Favours the Brave”, starred Damon and was directed by the Oscar-winning cinematographer and director Wally Pfister. It was produced by the film director David Fincher.
It shows Damon explaining how some men and women have tried their utmost to achieve but have failed, however there are those who have “embraced the moment” and committed to their goal.
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