Report: Jimmy Butler, ‘Bitboy’ agree to pay $340K to settle messy Binance promo suit

Published by
James Kingsley

Per cryptocurrency website Cointelegraph, Miami Heat forward Jimmy Butler along with YouTube star Ben Armstrong have reportedly consented to paying a large sum of money in order to settle a lawsuit that claims the two promoted a cryptocurrency exchange called Binance.

“NBA star Jimmy Butler and crypto YouTuber Ben Armstrong, known as ‘BitBoy,’ have agreed to pay a combined $340,000 to settle a class-action lawsuit claiming they promoted Binance, which is alleged to have sold unregistered securities,” Jesse Coghlan wrote.

As of Thursday, Armstrong has 121,000 subscribers on his YouTube channel, where he uploads videos about the crypto world on a daily basis.

Butler settlement agreement shows that he would pay $300,000. However, Butler has supposedly denied any misconduct and thinks that if the case were litigated to a conclusion he’d “be absolved of all liability.”

Armstrong would pay far less money than Butler would, as he would pay $40,000 of the $340,000 combined sum. Along with Butler, the YouTuber known as “BitBoy” has also denied any wrongdoing.

Binance, its CEO Changpeng Zhao — who is currently in jail — and BAM Trading have been named as defendants in the case as well, according to the lawsuit.

Adam Moskowitz, the managing partner of Moskowitz Law Firm — who is spearheading the lawsuit — sent an email to Cointelegraph regarding the firm’s findings during an investigation that supposedly spanned one year. The investigation allegedly “revealed that Binance is also selling unregistered securities and thus needs to be held accountable.”

Armstrong, Butler, Zhao and Binance all previously filed to dismiss the lawsuit.

Butler has spent each of his last five seasons in the NBA playing for the Heat franchise. Across 60 games played with Miami during the 2023-24 regular season, he averaged 20.8 points, 5.3 rebounds, 5.0 assists and 1.3 steals per game, though he failed to earn an All-Star nod for the second season in a row.

The 34-year-old will try to win the first title of his NBA career in 2025. Butler has come close to winning a title on more than one occasion during his time with the Heat, as he led the team to NBA Finals appearances in the years 2020 and 2023.

Butler and the Heat will kick off the 2024-25 regular season when they take on the Orlando Magic on Oct. 23.

James Kingsley

James is a Los Angeles native who has been a fan of the Lakers since the Shaquille O'Neal and Kobe Bryant days. He has been writing and editing for over 10 years now and is excited to bring his skillset to the Ahn Fire Digital team.

Published by
James Kingsley

Recent Posts

Report: Some NFL teams believe there will be no difference in quality of players drafted at No. 10 and No. 32

There are now only a few days remaining until the 2025 NFL Draft begins. The…

5 hours ago

Austin Reaves offers NSFW evaluation of his Game 1 performance vs. Wolves: ‘I wasn’t myself’

After such a fantastic 2024-25 regular season, Los Angeles Lakers guard Austin Reaves didn't play…

6 hours ago

Ty Jerome’s Cavs teammates unsurprised by his massive playoff game: ‘Might be a surprise to other people’

The Cleveland Cavaliers started their stint in the 2025 NBA Playoffs off on the right…

7 hours ago

Brandon Jennings says Rockets are ‘cooked’ vs. Warriors: ‘They not ready yet’

The Houston Rockets are in the playoffs for the first time in years, but they…

8 hours ago

Report: Nico Harrison felt like Luka Doncic was holding Mavs ‘hostage’ in time leading up to trade

Not all that long before his stint with the Dallas Mavericks ended, star guard Luka…

10 hours ago

Kobe was closest thing to M.J. ‘you ever will see again,’ says 5-time NBA champ who played with both of them

Former NBA guard Ron Harper was fortunate enough to play with two of the best…

10 hours ago