NBA Hall of Famer Paul Pierce to pay $1.4 million in crypto case

• The SEC previously charged Kim Kardashian with unlawfully promoting EthereumMax. She agreed to pay $1.26 million as part of a settlement.
• The Boston Celtics legend received more than $244,000 worth of EMAX tokens to promote the cryptocurrency but didn't disclose how much he was paid in Twitter posts, according to the SEC.

Pierce, a Basketball Hall of Famer and 10-time NBA All-Star, did not admit to or deny the allegations in the settlement.

• In addition to paying $1.4 million in the settlement, Pierce agreed not to promote any crypto assets for three years, the SEC said.

What they're saying: "This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security," said SEC Chair Gary Gensler in a statement.

Worth noting: Go deeper: SEC's crypto stance gets a boost from Kim Kardashian