NBA star Paul Pierce fined $1.4 million for promoting Emax cryptocurrency
Pierce agreed to pay the settlement “without admitting or denying the SEC’s findings.” | Image: Jesse D. Garrabrant/NBAE via Getty Images
Former NBA champion Paul Pierce has agreed to pay over $1.4 million in penalties after unlawfully promoting the EthereumMax (EMAX) cryptocurrency to his Twitter audience. In a statement published on Friday, the US Securities and Exchange Commission announced charges against the former Boston Celtics player — nicknamed ‘The Truth’ — for making “false and misleading” statements about EMAX and failing to disclose that he was paid more than $244,000 worth of EMAX tokens to promote the cryptocurrency to his social media following.
In one example of his illicit activity, the commission claims that Pierce tweeted a misleading screenshot of an account displaying significant EMAX holdings and profits without disclosing that the image did not…
