According to claims that he promoted a cryptocurrency without revealing he was paid, former NBA player Paul Pierce agreed to pay a $1.4 million settlement, the Securities and Exchange Commission announced Friday.

Driving the news: According to the SEC, Pierce, also known by the moniker “The Truth,” made fraudulent and deceptive claims concerning a coin called EthereumMax.

Kim Kardashian was previously accused by the SEC of improperly promoting EthereumMax. She consented as part of a settlement to pay $1.26 million.

According to the SEC, the former Boston Celtics player received more than $244,000 worth of EMAX tokens to promote the cryptocurrency but failed to declare the amount in his social media posts.

The 10-time NBA All-Star and member of the Basketball Hall of Fame, Pierce, did not acknowledge or refute the accusations in the deal.

Pierce agreed not to advertise any cryptocurrency assets for three years in addition to paying $1.4 million as part of the settlement, according to the SEC.

What they’re saying: Gary Gensler, chairman of the Securities and Exchange Commission, said in a statement, “This case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security.