SEC sues former NBA star Paul Pierce for promoting EthereumMAX

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The SEC’s order indicated that Pierce spread misleading statements related to EMAX, including tweeting a screenshot of an account showing large holdings and profits without disclosing that his own personal holdings were in fact much lower than those in the screenshot. One of Pierce's tweets also contained a link to EtherumMax’s website, which provided instructions for potential investors to purchase EMAX tokens.

Pierce did not confirm or deny the SEC’s findings but he has agreed to pay a $1,115,000 penalty and approximately $240,000 in disgorgement and prejudgment interest. He also agreed to not promote any crypto assets for three years.

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