PANews reported on February 18 that according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) sued former NBA star Paul Pierce for not disclosing the endorsement fees he received for promoting EthereumMax (EMAX) tokens. The SEC said that by promoting the project on Twitter, Pierce received $244,000 worth of EMAX tokens as compensation, but he did not disclose the amount. In addition, he also hinted through screenshots that he held a large number of EMAX tokens, although his holdings were far lower than the amount he showed. Pierce will pay $1.409 million in promotion income and fines, and agree to "not promote any crypto asset securities for three years." According to previous news, American reality TV star Kim Kardashian was also accused by the SEC for promoting EMAX and agreed to pay $1.26 million to reach a settlement.