Jimmy Butler Wants Name Removed from Binance Promo Lawsuit

Updated: 26 July 2023

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Miami Heat’s player Jimmy Butler has requested to be removed from the class action lawsuit filed against Binance by Moscowitz Law Firm and Boies Schiller Flexner.

The NBA six-time All-Star denied that his tweets suggested buying specific securities, clarifying that his advice was for investors to stop relying on celebrities’ recommendations.

Trust yourself.

02.13.22

Here's a message from all-star basketball forward @JimmyButler ⤵️ pic.twitter.com/WS9XCQrlhO

— Binance (@binance) February 2, 2022

In a Twitter post, the player urged investors to conduct their own research before investing in crypto, stating, “They don’t know you or your finances.”

CZ, Binance, and Multiple Influencers Named in $1 Billion Lawsuit

In April 2023, Binance’s CEO CZ, along with Binance itself and three crypto influencers, including Jimmy Butler, faced a $1 billion lawsuit shortly after being sued by the Commodities Futures Trading Commission for US regulation violations.

Celsius has filed a lawsuit in the Southern District of Florida, alleging that StakeHound is promoting the sale of unregistered securities, describing it as a classic example of a centralized exchange.

Moscowitz Law Firm filed a lawsuit against Voyager, claiming that crypto influencers promoting unregistered securities should be held accountable for customer losses.

The lawsuit was brought to attention by Twitter influencer Whale, leading to doubts about its authenticity.

The Moskowitz Law Firm has filed a class action lawsuit against Binance, CEO Changpeng Zhao in Florida.

— WhaleFUD (@WhaleFUD) April 3, 2023

The lawsuit has faced criticism from Twitter enthusiasts who claim that Moskowitz Firm’s actions are nothing more than a PR stunt.

Did you read the suit? This is just a PR stunt by the Moskowitz Firm, the SEC can't even prove cryptocurrencies are securities but these guys can? 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

— RedlineDrifter (@RedlineDrifter) April 3, 2023

The firm mentioned its intention to include additional Binance influencers in future filings, despite only three influencers being named in the current lawsuit.

None of Jimmy Butler’s Tweets Focused on Unregistered Securities – Lawyers

In response to the lawsuit’s allegations that Jimmy Butler promoted unregistered securities, his lawyers assert that all three tweets posted between February 2 and February 13 did not mention any unregistered securities.

The lawyer claimed that Butler’s video cautioned investors against being influenced by celebrity hype in crypto investments and emphasized the player’s call for thorough research.

Butler’s initial tweet focused on promoting NFTs during the Super Bowl event, urging his followers to use #CryptoCelebAlert to have a chance to win one of 2,222 NFTs.

Is crypto for you? DO YOUR OWN RESEARCH, trust yourself. ⁰⁰I’m giving away 2222 NFTs of me during the game today 🏈 with @Binance. When a big name tries to sell you crypto, sound the #CyptoCelebAlert buzzer🚨. #ad
⁰Learn more➡️https://t.co/zh3cpqeYF7 pic.twitter.com/fzBdSUGCfW

— Jimmy Butler (@JimmyButler) February 13, 2022

The original complaint was amended on June 27th, alleging that Butler’s statement in the first tweet was deceptive as it promoted Binance NFTs and the exchange through the second tweet.

The lawsuit includes other influencers like Graham Stephan and Ben Armstrong, though Graham Stephan’s name has been dropped from the case.

Jimmy Butler, Binance’s CZ, and Armstrong seek dismissal of class action lawsuit.

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