The former NBA player has agreed to pay a penalty and is prohibited from promoting crypto asset securities for three years
The commission claims that the former player promoted EMAX tokens on social media without disclosing the money earned for the promotion. In addition, the SEC also alleges that the player made false and misleading statements while promoting the token. The press release on the same“The SEC’s order finds that Pierce failed to disclose that he was paid more than $244,000 worth of EMAX tokens to promote the tokens on Twitter.
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