WASHINGTON, Feb 17 (Reuters) - Former basketball star
Paul Pierce will pay $1.4 million to settle charges he
unlawfully touted a crypto security, the U.S. Securities and
Exchange Commission announced Friday.
The SEC said Pierce, who was elected to the Naismith
Memorial Basketball Hall of Fame in 2021, promoted crypto tokens
sold by EthereumMax on social media without disclosing payment
and made misleading statements about the product. Pierce is the
latest celebrity to be penalized by the SEC for improperly
promoting crypto products on social media.
(Reporting by Pete Schroeder, Editing by Franklin Paul)
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