Cryptocurrency and NFTs are increasingly being endorsed by athletes in recent months. At the same time, a rising tide of lawsuits and accusations of fraud surrounding these innovative (and lightly regulated) financial instruments have begun to percolate into the media covering those endorsing athletes. Boston Celtics alumnus Paul Pierce, according to a new report by New York Times’ David Yaffe-Bellany, finds himself among them.
Pierce, who had previously endorsed a lesser-known form of cryptocurrency called “EthereumMax,” is now embroiled in a lawsuit regarding his activities tied to that form of “crypto” (as it is often called for short) according to Yaffe-Bellany’s article detailing the seedy underside of crypto and NFT endorsement in sporting circles.
“Even celebrities who disclose crypto payments have found themselves in legal trouble,” writes the NYT author.
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— The Celtics Wire (@TheCelticsWire) May 28, 2022
