NBA Hall of Famer Paul Pierce settled with the SEC over allegations he unlawfully touted the same crypto security as Kim Kardashian.
NBA Hall of Famer Paul Pierce settled with the SEC over allegations of unlawfully touting and making misleading statements about a "crypto asset security."
Pierce supported EthereumMax, the same crypto security that the SEC charged Kim Kardashian with unlawfully touting in Oct. 2022.Paul Pierce #34 of the Boston Celtics celebrates after a play against the Los Angeles Lakers in the fourth quarter during Game Five of the 2010 NBA Finals on June 13, 2010 at TD Garden in Boston, Massachusetts.NBA Hall of Famer Paul Pierce, who won a championship with the Boston Celtics, agreed to settle with the Securities and Exchange Commission for $1.
The action against Pierce involves his public statements about EthereumMax, or EMAX, the same crypto security product that the SECPierce promoted EthereumMax tokens on Twitter while failing to disclose that he was paid for his promotion with EMAX tokens worth over $244,000, the SEC alleged. Pierce did not admit or deny wrongdoing as part of the settlement and will pay a $1.1 million penalty and disgorge "approximately $240,000," the SEC said.
"@espn I don't need you," Pierce wrote in a May 2021 Tweet. "I got @ethereum_max I made more money with this crypto in the past month then I did with y'all in a year."Representatives for Pierce did not immediately respond to a request for comment. Kardashian settled with the SEC in October for $1.2 million over her alleged touting of EMAX, which includedA federal class action lawsuit naming Pierce, Kardashian, Floyd Mayweather Jr., and other EthereumMax boosters was.
The SEC has gotten more aggressive with its enforcement action in the crypto space. On Thursday, the regulator
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