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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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CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
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