Jimmy Butler and YouTube influencer Ben Armstrong have agreed to pay $340,000 to settle a lawsuit accusing them of helping deceive investors into buying unregistered securities from Binance Holdings Limited.
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00:00story, Jimmy Butler and a YouTube influencer, they had to settle a lawsuit.
00:07Jimmy buckets had to pay $340,000, which is about three quarters of a game
00:14check, uh, to settle a lawsuit.
00:18Because, uh, they said that he influenced his fans to buy cryptocurrency.
00:26Become a big thing.
00:26We're coming after the celebrities for the, uh, for the cryptocurrency.
00:30Hey, Tom Brady and his ex lost a lot of money off that.
00:33Yup.
00:34The FTX deals.
00:35That's right.
00:36With the, uh, what was that guy's name?
00:38Sam, uh, bankman freed.
00:41Yeah.
00:41That guy was, uh, that guy was a scammer.
00:44He had to take off the name off of the, uh, off of, uh, the arena FTX.
00:49It's pretty amazing how quickly they can do that.
00:51I mean, it is on top of an arena.
00:53Yeah, for sure.
00:55Yeah.
00:55I mean, they got American airlines going.
00:58It was a big plane up there.
00:59They just, I mean, yikes.
01:01Miami Herald writes Miami heat star, Jimmy Butler and YouTube influencer,
01:06Ben Armstrong have agreed to pay $340,000 to settle a lawsuit, accusing
01:10them of helping to deceive investors into buying unregistered securities
01:15from British companies, which is a scam.
01:18Into buying unregistered securities from Binance holdings limited, which
01:23operates as the world's largest cryptocurrency exchange, Armstrong
01:28and Butler denied wrongdoing as part of the settlement, according to court
01:31records, the U S district judge will now decide whether to preliminary
01:35approve the agreement, which was filed in Miami federal court on Monday.
01:38The deal was reached months after talks involving a mediator, former Miami
01:44circuit judge, Michael Hansman, uh, Altman will then consider signing off
01:50the settlement at a final hearing where buyers of Binance unregistered
01:53securities while the opportunity to voice their opinion on the agreement.
01:57It was filed last year, uh, by against Butler and Armstrong who
02:02goes by the name BitBoy crypto.
02:06Can I just say something just as an aside, I don't want to see
02:10anybody lose their money.
02:11Of course I don't want it, but I wasn't a crypto bro.
02:17Still.
02:17I'm not, don't you kind of know you're getting what you're getting into, you
02:23know, like Jimmy Butler's at fault because I bought Hocus Pocus money.
02:32Yeah.
02:35I don't know that I like investing in things.
02:37I'm just saying, I'm not trying to be a jerk.
02:39I like it.
02:40I like investing in things, not imaginary stuff.
02:45I don't.
02:45Yeah.
02:45I don't even remember Jimmy Butler.
02:47So if you sold all your crypto, what did you sell?
02:50I don't know.
02:51Right.
02:51If you buy crypto, what are you buying?
02:54It's very confused by it.
02:56That's I'm so too confused to do it.
03:00They also sued co-founder of Binance Chang peng Zhao.
03:05The suit accused them of luring customers into buying cryptocurrency and tokens,
03:08including their native token, which was actually unregistered
03:12securities violation of us law.
03:15All right.
03:15Well, there you go.