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

Paul and other celebrities did not disclose they were paid to promote Sun-linked assets, the SEC alleged.

AccessTimeIconMar 22, 2023 at 7:47 p.m. UTC
Updated Mar 23, 2023 at 6:28 p.m. UTC

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.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.