Sports

February 18, 2023

Paul Pierce Charged In Cryptocurrency Scandal

By Nandini Sharma

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Celebrities and professional athletes have been implicated in cryptocurrency scandals over the past few years. 

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NFL legend Tom Brady was investigated for his alleged involvement in a Ponzi scheme, but it was later discovered that he was actually a victim who lost tens of millions due to a poor investment. 

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 NBA superstar Paul Pierce is the most well-known individual now under investigation. 

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Paul Pierce failed to disclose that he was paid $244,000 by EMAX to promote the cryptocurrency token, and as a result, the Securities and Exchange Commission has accused him of making false and misleading statements about EthereumMax.

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Pierce tweeted a screenshot of an account with significant assets and earnings, but he also failed to report a payment and misrepresented his involvement in the company.

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“When celebrities endorse investment opportunities, including crypto-asset securities, investors should be careful to research if the investments are right for them, and they should know why celebrities are making those endorsements,” Gensler said.

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Patrick Mahomes Handed Lombardi Trophy To A Fan

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