The SEC has repeatedly warned celebrities about promoting crypto tokens without disclosing that they are being paid for it. Kim Kardashian was accused of similar allegations and agreed to pay $1.3 million in October to settle the allegations.
This is not the first time that a celebrity has faced the SEC for promoting the EMAX token.
SEC Chair Gary Gensler said that the case is "yet another reminder to celebrities" that they must disclose their payments for promoting investment in securities and cannot lie to investors. The EMAX tokens are crypto asset securities offered and sold by EthereumMax, and each token was down over 8% to a fraction of a penny during the afternoon trading. He won the national Golden Gloves in 1993, 1994. Mayweather earned the nickname Pretty Boy during his amateur career because of his unmarked face. Pierce did not admit or deny the agency’s findings.Īs part of the settlement, Pierce also agreed to not promote any crypto asset securities for three years. Floyd Mayweather, Jr., bynames Money and Pretty Boy, (born February 24, 1977, Grand Rapids, Michigan, U.S.), American boxer whose combination of speed, power, and technical prowess made him one of the best pound-for-pound fighters of all time. He also claimed to have made more money with the EMAX token than at ESPN in May 2021, which the SEC said was "materially misleading". Pierce was accused of making false and misleading statements about the EthereumMax (EMAX) token.Īccording to the SEC, Pierce failed to disclose that he was paid more than $244,000 to promote the token on Twitter. Former NBA player and Boston Celtics star, Paul Pierce, has agreed to pay $1.4 million to settle the US Securities and Exchange Commission (SEC) allegations that he promoted a crypto token without disclosing that he was paid for the promotions.
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