Back in June ’21, Kim Kardashian shilled Ethereum Max on Instagram. When I learned about it, I wrote, “I’ve just become aware of the best example of everything that is bad (and hopefully temporary) about crypto-insanity.”
To her credit, the first line of Ms. Kardashian’s Instagram post was, “This is not financial advice but sharing what my friends just told me about the Ethereum Max Token!” She was sued in January ’22 anyway.
When I learned about the lawsuit, I wrote, “Watch this lawsuit very carefully. This wasn’t the “fine print.” Kardashian began her social post with a disclaimer. As you can see from my original reaction, I had absolutely no kind words for Kim back in June. That aside… are loud, obvious disclaimers a valid legal defense?”
This is about to be tested in court. I don’t think you can disclaim any better than Kim Kardashian did in the first line of her post. Maybe she’ll lose because there was no fine print on her post (with the boilerplate of a complete disclaimer). If there are no technical legal issues or obvious screw-ups by counsel on either side, this case will tell us a great deal about who can and cannot be sued about financial losses with respect to written disclaimers.
Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.