Jimmy Butler, BitBoy Crypto Agree to Pay $340,000 in Binance Investor Case
Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...
Miami Heat star Jimmy Butler and YouTube influencer Ben Armstrong have agreed to pay a combined $340,000 to settle claims from Binance investors.
According to a recent Bloomberg report, the customers’ lawyers requested preliminary approval for the settlement from a federal judge in Miami on Monday after months of mediation.
The settlement is part of a broader lawsuit that includes Binance and its co-founder, Changpeng Zhao. The investors claim they were lured into buying cryptocurrencies, including Binance’s BNB token, which were allegedly unregistered securities under U.S. law.
NBA All-Star Jimmy Butler and Ben ‘BitBoy’ Armstrong agree to settle Binance related class action lawsuit
– The Block
If the judge grants preliminary approval, the buyers of the Binance securities will have the opportunity to object to the settlement at a hearing before final approval is given.
The lawsuit was filed last year against Jimmy Butler and Ben Armstrong, known as BitBoy Crypto. Armstrong’s attorney, Darren Heitner, confirmed that a settlement was reached, with both Armstrong and Butler maintaining their innocence as part of the agreement.
Three crypto investors have recently filed a class action lawsuit against Binance and its former CEO, Changpeng “CZ” Zhao, accusing the company of enabling large-scale money laundering.
The lawsuit, filed in the U.S. District Court for the Western District of Washington, Seattle, alleges that Binance allowed stolen cryptocurrencies to be laundered through its platform, making them untraceable.
The plaintiffs, Philip
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