YouTuber Ben Armstrong, also known as BitBoy, and Miami Heat basketball star Jimmy Butler have agreed to settle claims related to Binance’s promotion of unregistered securities. They were fined $340,000. The class action lawsuit, filed in March, alleges that Armstrong and Butler helped the cryptocurrency exchange sell unregistered securities, including the BNB token (BNB) and the BUSD stablecoin. Butler will pay $300,000 and Armstrong will pay $40,000. The settlement follows a recent court ruling that holds advertisers liable for general statements made online.
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