Paul Pierce is one of the best basketball players of his era, a Celtics franchise legend and a member of the Basketball Hall of Fame. Unfortunately, he’s in the news for something totally unrelated to basketball today.
The United States Securities and Exchange Commission has charged the former NBA star with making false and misleading statements about cryptocurrency. The SEC says Pierce failed to disclose payments he received to promote EMAX tokens.
Pierce has agreed to settle the charges, but now must pay $1.4 million in fines.
Fans reacted to the news, with many making jokes at Pierce’s expense.
“The Truth didn’t tell the truth,” one fan said. “You hate to see it.”
“He’s not the Truth anymore,” said another fan.
Some fans brought up notable lowlights from Pierce’s career to poke fun.
“2008 Celtics just cannot stop taking L’s,” one fan noted.
Pierce may be the first to see consequences, but he isn’t the first athlete to jump on the crypto bandwagon. Stephen Curry, Tom Brady and Shaquille O’Neal all appeared in ads for the ill-fated FTX. The Miami Heat even re-named their arena after the now-bankrupt crypto exchange.
In a move that upset many fans, the Lakers entered a new naming agreement with Crypto.com for their home arena.
It will be interesting to see if any other athletes face the same penalties as Pierce.
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