"Kardashian's failure to disclose this compensation violated Section 17(b) of the Securities Act, which makes it unlawful for any person to promote a security without fully disclosing the receipt and amount of such consideration from an issuer," the SEC order said.Kardashian's post also contained "an introductory video stating she had a 'big announcement'" and "a link to the EthereumMax website, where instructions were provided for potential investors to purchase EMAX tokens," the SEC said.Kardashian post apparently had an effectGensler made what should be the fairly obvious point 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."In September 2021, Morning Consult announced the results of a poll about the impact of Kardashian's Instagram post:Roughly one in five adults reported seeing something about Kardashian's crypto Instagram, according to a poll conducted in the days following the post, and the share was higher among crypto owners, at 31 percent.Kardashian's conversion was also impressive: A striking 19 percent of respondents who said they heard about the post invested in EthereumMax as a result."