State-Level Class Actions Against EthereumMax Promoters to Proceed

A federal judge in California has greenlit state-level class actions against celebrities and promoters of the EthereumMax (EMAX) token, while dismissing a broader nationwide claim. Investors in New York, California, Florida, and New Jersey may now pursue claims against high-profile figures including Kim Kardashian, Floyd Mayweather, and Paul Pierce.

The lawsuits stem from EMAX's volatile 2021 performance, where the token surged 116,000% before collapsing 99%. Judge Michael Fitzgerald found the state-level classes met federal procedural standards, but rejected a nationwide class due to jurisdictional concerns over applying California and Florida laws universally.

This ruling preserves claims against the token's promoters while narrowing the legal battlefield. The case highlights growing regulatory scrutiny of celebrity-endorsed crypto projects and their potential liability for investor losses.