Boston.com · Feb 17, 2023
Paul Pierce agreed to pay $1.4 million to settle SEC cryptocurrency charges
Paul Pierce in 2021. AP Photo/Jessica HillThe Securities and Exchange Commission (SEC) charged former Celtics player Paul Pierce for making multiple federal securities law violations relating to his promotion of cryptocurrency. Pierce has agreed to settle, the commission announced on Friday, and pay a total of $1.409 million.
Specifically, the SEC found that Pierce promoted crypto asset securities (known as EMAX tokens) from EthereumMax on social media despite not publicly disclosing that he received more than $244,000 in EMAX tokens to help pitch the product on Twitter.