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Fortune

Shawn Tully

Binance, CZ, and NBA star Jimmy Butler and other crypto influencers hit with $1B suit for promoting unregistered securities

Binance Jimmy Butler SEC Crypto Changpeng Zhao CZ Fortune Ben Armstrong Graham Stephan BNB FTX

(Credit: Ben McShane—Sportsfile for Web Summit via Getty Images)

Just four days after the Commodity Futures Trading Commission brought a highly-publicized suit against Binance, the world’s largest cryptocurrency exchange is facing another high-profile legal challenge.

Late on the evening of March 31, the Moskowitz Law Firm and Boies Schiller Flexner, home to super-attorney David Boies, filed a class action suit that targets Binance, its founder Changpeng Zhao (CZ)—the world’s leading spokesman for the crypto industry—and hoops star Jimmy Butler of the Miami Heat.

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