NEW: The SECgov has sued NBA Hall of Famer Paul Pierce over charges he did not disclose he was paid to promote the EthereumMax token. Pierce will pay $1.4 million in penalties and disgorgement. nikhileshde reports
The U.S. Securities and Exchange Commission sued former National Basketball Association player Paul Pierce for"touting" EthereumMax tokens without revealing he had been paid to do so.
The NBA Hall of Famer agreed not to"promote any crypto asset securities for three years," the SEC's statement said.over similar charges. The reality TV star paid $1.26 million for not disclosing $250,000 in payment.In a statement, SEC Chair Gary Gensler said the settlement is"yet another reminder to celebrities" to disclose if they are being paid to promote investments.
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