Boston, MA
Former Boston Celtics star Paul Pierce settles with SEC over crypto violations
Paul Pierce #34 of the Boston Celtics celebrates after a play towards the Los Angeles Lakers within the fourth quarter throughout Recreation 5 of the 2010 NBA Finals on June 13, 2010 at TD Backyard in Boston, Massachusetts.
Elsa | Getty Pictures
NBA Corridor of Famer Paul Pierce, who received a championship with the Boston Celtics, agreed to settle with the Securities and Trade Fee for $1.4 million over allegations that he unlawfully touted crypto securities, the regulator introduced on Friday.
The motion towards Pierce includes his public statements about EthereumMax, or EMAX, the identical crypto safety product that the SEC charged influencer Kim Kardashian with unlawfully touting.
Pierce promoted EthereumMax tokens on Twitter whereas failing to reveal that he was paid for his promotion with EMAX tokens value over $244,000, the SEC alleged. Pierce didn’t admit or deny wrongdoing as a part of the settlement and pays a $1.1 million penalty and disgorge “roughly $240,000,” the SEC mentioned.
Pierce can also be barred from selling any crypto asset securities for 3 years, the SEC mentioned.
“This case is one more reminder to celebrities: The legislation requires you to speak in confidence to the general public from whom and the way a lot you might be getting paid to advertise funding in securities, and you may’t misinform buyers whenever you tout a safety,” SEC Chairman Gary Gensler mentioned in a press release.
Pierce’s social media help for EthereumMax additionally concerned allegedly deceptive the general public about his EMAX holdings, in response to the SEC. Pierce allegedly shared deceptive screenshots of his EMAX holdings and earnings, the SEC mentioned, with out disclosing that his private holdings had been truly far decrease.
“@espn I do not want you,” Pierce wrote in a Could 2021 Tweet. “I bought @ethereum_max I made extra money with this crypto prior to now month then I did with y’all in a 12 months.”
The SEC mentioned Pierce’s gross compensation from ESPN was over $1 million in 2020.
Representatives for Pierce didn’t instantly reply to a request for remark. Kardashian settled with the SEC in October for $1.2 million over her alleged touting of EMAX, which included a now notorious line, “Are you guys into crypto????”
A federal class motion lawsuit naming Pierce, Kardashian, Floyd Mayweather Jr., and different EthereumMax boosters was dismissed in December. A decide discovered that the plaintiffs’ allegations did not meet the “heightened pleading requirements” that fraud instances demand. The lawsuit was refiled the identical month.
The SEC has gotten extra aggressive with its enforcement motion within the crypto house. On Thursday, the regulator charged stablecoin issuer Terraform and CEO Do Kwon with fraud.
Earlier this week, the SEC proposed adjustments to federal custody regulation that might materially affect the best way crypto exchanges are capable of custody sure property. Days earlier, crypto trade Kraken settled with the SEC over its staking service. And in January, the SEC unveiled costs towards crypto lender Genesis and crypto trade Gemini over the alleged unregistered providing and sale of securities.
— CNBC’s Rebecca Picciotto contributed to this report.
WATCH: SEC Chair Gensler breaks down costs towards Kim Kardashian
DARTMOUTH – Students at the University of Massachusetts Dartmouth got an amazing graduation gift from their commencement speaker Thursday. Billionaire Robert Hale surprised more than 1,100 graduates with $1,000 each.
“Each of you is getting $1,000 cash right now,” he said.
Gift comes with one “catch”
There was one instruction to go along with his gift. Hale said $500 is for the graduates to keep and $500 is for them to give to others. He invited them all to share in the joy of giving by gifting the money to a cause or person who needs it more than they do.
“These trying times have heightened the need for sharing, caring and giving,” he said. “Our community needs you and your generosity more than ever.”
Hale is the CEO of Quincy-based Granite Telecommunications, which he founded in 2002, and a co-owner of the Boston Celtics. Forbes estimates his net worth at $5.4 billion.
Graduation surprise becoming a tradition
And Hale has done the same thing before. Last year, he gave $1,000 to all 2,523 graduates at UMass Boston. And in 2021, he gifted the same amount to 230 Quincy College graduates.
College graduates can certainly use the cash. It’s been less than a year since the COVID-era student loan payment pause ended. The Education Department said that roughly 40% of student loan borrowers who owed a payment when the pause ended in October 2023 failed to make that payment by mid-November.
BOSTON — The Celtics are on to the Eastern Conference Finals for the third straight season and the sixth time in the last eight years. But who they’ll play for a trip to the NBA Finals and when the series will tip off will remain unknown for a few more days.
Boston finished off the Cleveland Cavaliers in five games, thanks to Al Horford turning back the clock and leading the team to a 113-98 series-clinching victory at TD Garden on Wednesday night. Now the Celtics will get at least a few days off before their next playoff bout begins.
We’ll have a better idea of how it will all shake out over the next two days. Boston gets the winner of the Knicks-Pacers series, with New York leading the set 3-2 heading into Friday night’s Game 6 in Indiana. A Knicks win on Friday would set up a highly anticipated Boston-New York conference finals, which would tip off either Sunday or Tuesday at TD Garden. If the Pacers even the series and force a Game 7 in New York, that would take the Sunday afternoon slot.
The Timberwolves-Nuggets series in the Western Conference also factors into Boston’s future. If the Timberwolves force a Game 7 against the Nuggets with a win on Thursday night, that deciding game would also take place on Sunday and the Eastern Conference Finals would be pushed to Tuesday.
For those who like to plan ahead, here are two schedules for the Eastern Conference Finals, depending on how things play out in the NBA playoffs the rest of the week.
Eastern Conference Finals schedule if Knicks-Pacers and Nuggets-Timberwolves finish in six games
Game 1: Sunday, May 19 at 3:30 p.m. in Boston
Game 2: Tuesday, May 21 at 8 p.m. in Boston
Game 3: Saturday, May 25 at 8:30 p.m. in New York or Indiana
Game 4: Monday, May 27 at 8 p.m. in New York or Indiana
Game 5: Wednesday, May 29 at 8 p.m. in Boston*
Game 6: Friday, May 31 at 8 p.m. in New York or Indiana*
Game 7: Sunday, June 2 at 8 p.m. in Boston*
* If Necessary
Eastern Conference Finals schedule if Knicks-Pacers or Nuggets-Timberwolves go seven games
Game 1: Tuesday, May 21 at 8 p.m. in Boston
Game 2: Thursday, May 23 at 8 p.m. in Boston
Game 3: Saturday, May 25 at 8:30 p.m. in New York or Indiana
Game 4: Monday, May 27 at 8 p.m. in New York or Indiana
Game 5: Wednesday, May 29 at 8 p.m. in Boston*
Game 6: Friday, May 31 at 8 p.m. in New York or Indiana*
Game 7: Sunday, June 2 at 8 p.m. in Boston*
* If Necessary
The Celtics will obviously be rooting for the Knicks and the Pacers to go seven and exhaust each other further. Horford could use a few extra days rest after his monster Game 5 against the Cavs, and if the Celtics are lucky, maybe Kristaps Porzingis could return early in the Conference Finals. (That may be wishful thinking, but time will tell.)
Either way, the Celtics should take full advantage of the rest they get before starting their battle for a spot in the NBA Finals. That will be important against either team, with the Pacers playing every game like a track meet and games against the Knicks resembling more of a boxing match.
On Wednesday evening, the Boston Celtics advanced to the Eastern Conference Finals by defeating the Cleveland Cavaliers 113-98 in Game 5 of their second-round playoff series.
Jaylen Brown had a quiet night, and finished with 11 points, four rebounds, seven assists, one steal and one block while shooting 4/9 from the field and 1/3 from the three-point range in 41 minutes of playing time.
By advancing to the Conference Finals, ESPN’s Bobby Marks reported that Brown earned a significant contract bonus.
Via Marks: “🚨Bonus Alert 🚨 Jaylen Brown ✅Conference Finals 💰$369,048”
🚨Bonus Alert 🚨
Jaylen Brown
✅Conference Finals
💰$369,048
— Bobby Marks (@BobbyMarks42) May 16, 2024
Brown finished the regular season with averages of 23.0 points, 5.5 rebounds, 3.6 assists and 1.2 steals per contest while shooting 49.9% from the field and 35.4% from the three-point range in 70 games.
The All-Star forward helped the Celtics finish as the first seed in the Eastern Conference (with a 64-18 record).
They beat the Miami Heat in the first round before eliminating the Cavs on Wednesday.
Brown was the third pick in the 2016 NBA Draft out of Cal and is in his eighth season in the league (all with Boston).
Despite only being 27, he is headed to his sixth Eastern Conference Finals appearance.
However, the Celtics have been unable to win a title since the 2008 season when Kevin Garnett and Paul Pierce were still on the roster.
battled til the final whistle 🤝 @cavs pic.twitter.com/TYpz9vx7SX
— Boston Celtics (@celtics) May 16, 2024
The Celtics will play either the New York Knicks or the Indiana Pacers.
Currently, the Knicks lead the Pacers 3-2 with Game 6 on Friday evening in Indiana.
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