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NBA Legend To Pay $1.4M To SEC

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Paul Pierce will pay $1.4 million to settle charges from the Securities and Exchange Commission (SEC).

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The charges relate to a cryptocurrency called EthereumMax (EMAX) that Pierce promoted on Twitter.

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The SEC accused Pierce of making false and misleading statements about EMAX and failing to disclose a payment of $244,000 in tokens he received for promoting it.

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Pierce also posted a screenshot that exaggerated his EMAX holdings and profits, and tweeted a link to the currency's website.

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The SEC found that Pierce violated federal securities laws.

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Pierce did not admit or deny the SEC's findings as part of the settlement.

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He agreed not to promote crypto for three years.

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Pierce's case is similar to Kim Kardashian's $1.26 million settlement in October 2022 for promoting the same currency.

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Both Pierce and Kardashian were sued last year for their involvement in the scheme.

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Pierce, a retired NBA player and former ESPN analyst, is a Hall of Famer.

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