Advertisement
New Zealand markets closed

  • NZX 50

    11,796.21
    -39.83 (-0.34%)
     

  • NZD/USD

    0.5883
    -0.0023 (-0.39%)
     

  • NZD/EUR

    0.5526
    -0.0019 (-0.34%)
     

  • ALL ORDS

    7,800.80
    -98.10 (-1.24%)
     

  • ASX 200

    7,550.10
    -92.00 (-1.20%)
     

  • OIL

    84.47
    +1.74 (+2.10%)
     

  • GOLD

    2,396.60
    -1.40 (-0.06%)
     

  • NASDAQ

    17,394.31
    -99.31 (-0.57%)
     

  • FTSE

    7,877.05
    +29.06 (+0.37%)
     

  • Dow Jones

    37,775.38
    +22.07 (+0.06%)
     

  • DAX

    17,837.40
    +67.38 (+0.38%)
     

  • Hang Seng

    16,198.67
    -187.20 (-1.14%)
     

  • NIKKEI 225

    37,108.89
    -970.81 (-2.55%)
     

  • NZD/JPY

    90.7440
    -0.5100 (-0.56%)
     

SEC Sues Jake Paul for 'Illegally Touting' Justin Sun-Linked Cryptos

Danny Nelson
Updated ·1-min read
Sarah Stier

Join the most important conversation in crypto and web3! Secure your seat today

Internet personality Jake Paul was sued by the U.S. Securities and Exchange Commission over his alleged illegal promotion of cryptocurrencies tied to Justin Sun.

Paul “illegally touted” cryptocurrencies “TRX and/or BTT” without disclosing he was being paid to do so, according to a press release. The YouTuber-turned-boxer is among a cast of celebrities the SEC charged Wednesday with participating in a scheme to illegally promote Sun-tied cryptos.

According to the press release, Paul settled the charges.

It’s not the first time Paul’s crypto escapades have come under scrutiny. He was sued in February for allegedly participating in a pump-and-dump scheme run by SafeMoon. His brother, Logan, has also raised eyebrows with his failed nFT project CryptoZoo.

The actions Wednesday came as the SEC sued Justin Sun for market manipulation and alleged that TRX and BTT were both unregistered securities.

This is a developing story.