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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.
By Danny Nelson
Updated Mar 23, 2023, 6:28 p.m. Published Mar 22, 2023, 7:47 p.m.
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.
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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.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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SEC Approves U.S.’ Second Crypto Index ETP with Bitwise’s BITW
The Bitwise 10 Crypto Index Fund now trades on NYSE Arca, joining the ranks of gold and oil funds in regulated exchange products.
What to know:
- The Bitwise 10 Crypto Index Fund (BITW) has received SEC approval to trade as an exchange-traded product on NYSE Arca.
- BITW offers diversified exposure to the 10 largest cryptocurrencies, including Bitcoin and Ether, and is rebalanced monthly.
- This approval marks a significant milestone for crypto indices, potentially attracting more institutional investment.
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