A lawsuit accusing Kim Kardashian and Floyd Mayweather of misleading investors by promoting a cryptocurrency on social media has been dismissed.
Investors who bought EthereumMax tokens said they had lost money after believing what the celebrities said about the digital asset.
The lawsuit was filed in January, and it claimed that the defendants had conspired to inflate the value of the tokens.
District Judge Michael Fitzgerald of California said in his ruling on Wednesday that the case raised “legitimate concerns” about the ability of celebrities to persuade fans to “buy snake oil with unprecedented ease and reach”.
But the law still expected investors to “act reasonably” before acting “on the zeitgeist of the moment”, he added.
Kardashian wrote an Instagram post in June 2021 saying: “Are you guys into crypto??? This is not financial advice but sharing what my friends told me about Ethereum Max token.”
Her post included “#ad” at the bottom, indicating she had been sponsored, but it did not disclose her $250,000 payment from EthereumMax.
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Mayweather promoted the EMAX tokens at a boxing match and at a Bitcoin conference in June 2021.
The value of the EMAX tokens rocketed in 2021 – but by January, they had lost 97% of their value.
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In addition to Kardashian, Mayweather and former Boston Celtics star Paul Pierce, the defendants in the case included Steve Gentile and Giovanni Perone, the co-founders of EthereumMax, and Justin French, a consultant and developer for the cryptocurrency.
The judge’s ruling said: “This action demonstrates that just about anyone with the technical skills and/or connections can mint a new currency and create their own digital market overnight.
“Likewise, the action emphasises the power of social media in allowing celebrities to directly communicate with their millions of fans with a touch of a button.
“These two facts, together, have seemingly allowed unvetted and highly volatile investment ventures to go viral based solely on the paid-for word of celebrity promoters.
“Losses have inevitably followed. The court acknowledges that this action raises legitimate concerns over celebrities’ ability to readily persuade millions of undiscerning followers to buy snake oil with unprecedented ease and reach.
“But, while the law certainly places limits on those advertisers, it also expects investors to act reasonably before basing their bets on the zeitgeist of the moment.”
Michael Rhodes, a lawyer for Kardashian, told NBC: “We’re pleased with the court’s well-reasoned decision on the case.”
The investors can refile the lawsuit if they amend some of their claims by 22 December.
It comes two months after Kardashian agreed to pay $1.26m (£1m) and not to promote cryptocurrency for three years to settle claims by the US Securities and Exchange Commission for her failure to disclose the $250,000 payment she received.
The first meeting between a sitting US and Russianpresident in more than four years, following one of the bleakest periods in the history of their countries’ bilateral relations.
But a Putin–Trumpsummit does not necessarily mean there will be a ceasefire.
On the one hand, it could signal that a point of agreement has been reached and a face-to-face meeting is needed to seal the deal.
That has always been Russia’s stance. It’s consistently said it would only meet at a presidential level if there’s something to agree on.
On the other hand, there might not be anything substantive. It might just be for show.
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‘Good chance’ Trump will meet Putin soon
It might just be the latest attempt by the Kremlin to diffuse Donald Trump’s anger and dodge his deadline to end the war by Friday or face sanctions.
It would give Trump something that can be presented as progress, but in reality, it delivers anything but.
After all, there has certainly not been any sign that Moscow is willing to soften its negotiating position or step back from its goals on the battlefield.
Tellingly, perhaps, it’s this latter view which has been taken by some of the Russian press on Thursday.
Image: Donald Trump and Vladimir Putin have not met face to face since the US president returned to the White House. File pic: Reuters
“Putin won” is the headline in Moskovsky Komsomolets regarding the Kremlin leader’s meeting with Witkoff.
The state-run tabloid quotes a political scientist, Marat Bashirov, who claims Putin “bought time” ahead of Friday’s deadline.
“It is noteworthy that in his rhetoric [on sanctions] Trump did not mention Russia at all,” the paper notes.
Komsomolskaya Pravda is similarly dismissive.
“Donald Trump has two simple interests in connection with Ukraine: to earn money for America, and political whistles and the Nobel Peace Prize for himself,” it says.
“Russia has its own interests,” it adds, “securing them is what Vladimir Putin will seek at a meeting with Trump.”
At this stage, the most likely location is the United Arab Emirates. Putin met the country’s president in the Kremlin today, and afterwards said it would be a “suitable location”. It felt like a strong hint.
And the UAE certainly makes sense.
It’s played mediator for a number of the prisoner swaps between Russia and Ukraine; it has good relations with the US (and was one of Trump’s stops on his recent Middle East tour); and most importantly for Moscow, it’s not a member of the International Criminal Court. So Putin doesn’t have to worry about being arrested.
But if NBC’s reports are correct, that a Putin-Trump summit is conditional on the Russian president meeting with Ukrainian leader Volodymyr Zelenskyy, then the summit may not happen at all.
Until now, Putin has refused to meet Zelenskyy, despite numerous demands from Kyiv, because he views him as illegitimate.
The Kremlin said the prospect of a trilateral meeting between the leaders was mentioned by Witkoff on Wednesday, but the proposal was left “completely without comment” by Russia.
GPT-5, the long-awaited upgrade to the ChatGPT AI chatbot, has been released by its maker OpenAI.
It has been one of the most highly anticipated launches in Silicon Valley after OpenAI’s first offering ChatGPT – powered by its GPT-3 model – kick-started the current AI boom in late 2022.
“GPT-3 sort of felt like talking to a high school student,” said Sam Altman, OpenAI’s chief executive.
“GPT-4, maybe it was like talking to a college student. But with GPT-5, now it’s like talking to an expert, a PhD-level expert in anything, any area you need, on demand.”
At the launch event, OpenAI claimed the new chatbot, which will be released to all ChatGPT users on Thursday, was more than a simple upgrade to its previous offerings.
According to OpenAI, the new model exceeds the chatbot competition from the likes of Google, X and Antropic on “benchmarks” – standardised tests used to rank models.
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OpenAI claims it has been designed to be easier and more natural to communicate with, better at writing prose and advanced computer code, solving academic questions from mathematics to law, assisting with healthcare-related questions, as well as being safer than its predecessors.
“It’s an incredible superpower on demand,” claimed Mr Altman.
Image: GPT-5. Pic: OpenAI
The model is also more intelligent in how it uses its own brain power – and therefore an expensive computing resource – according to OpenAI.
It is a hybrid of previous chatbots and slower, more computing-intensive “reasoning” models like OpenAI’s Deep Research.
Based on a user’s request, the model will decide how much “thinking” is required before answering, rather than requiring the user to switch between different models.
Image: GPT-5. Pic: OpenAI
Although AI enthusiasts who had been expecting GPT-5 to represent “artificial general intelligence [AGI]” will be disappointed.
Despite this being OpenAI’s stated goal, Mr Altman billed GPT-5 as a “major upgrade” to GPT-4 and a “significant step along the path to AGI”.
But they’re clearly not there yet.
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July: ‘ChatGPT is the partner I always wanted’
A real test of GPT-5 will be whether it sells.
OpenAI is projected to spend $8bn (£6bn) this year, on top of $5bn (£3.7bn) last year, and while it is expected to make a profit this year, the business case for increasingly powerful AI models is still not clear to many investors.
Given a single training run for GPT-5 is rumoured to have cost $500m (£373m), there will be an expectation the new model is significantly more useful to business users.
Despite a very slick demonstration of its coding skills at the launch presentation, where it built an online language learning game in seconds, GPT-5 will have to prove its worth for professional coding.
Many in the tech industry prefer Anthropic AI’s Claude model to write code. OpenAI and its investors will be hoping GPT-5 changes that.
AI experts will also be testing GPT-5’s tendency to “hallucinate”, an issue OpenAI claims to have improved with GPT-5.
But erroneous or bizarre answers are a problem that dogs all large generative AI models.
“Shiny things are always fun to play with, and I fully expect GPT-5 to be the shiniest so far,” said Gary Marcus, a cognitive scientist at New York University and AI commentator.
“But that doesn’t mean that it is a critical step on the optimal path to AI that we can trust,” Mr Marcus added in a post.
Dean Cain has been branded the “worst superman ever” as he announced he will join the US Immigration and Customs Enforcement (ICE) “ASAP”.
The 59-year-old, who was cast as Superman in the TV series Lois & Clark: The New Adventures of Superman, announced he had joined the team amid the federal agency’s unprecedented immigration raids.
He told Fox News on Wednesday his recruitment video on Instagram had gone viral and since then, “I have spoken with some of the officials over at ICE and I will be sworn in as an ICE agent ASAP”.
“You can defend your homeland and get great benefits,” he said in the Instagram post where he appealed for his followers to join ICE.
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Speaking with the Superman theme song in the background, he said “hundreds of thousands of criminals” had been arrested since US President Donald Trump took office.
He then told his followers they would get a series of benefits if they joined ICE, including a $50,000 (£37,407) signing bonus and student loan repayment.
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4:28
Who is being targeted in Trump’s immigration raids?
“If you want to help save America ICE is arresting the worst of the worst and removing them from America’s streets,” he said, before adding: “I voted for that.”
ICE agents are under pressure from the White House to boost their deportation numbers in line with Mr Trump’s campaign promise to crack down on illegal immigration.
Cain’s post on Instagram received some backlash, with one user commenting: “Worst superman ever”.
Another said: “Shame on you Dean – that’s the most un-Superman thing you could possibly advocate.”
One fan turned against him and said: “Until I saw this I was such a fan. What a sad human being you must be.”