As a seasoned analyst with over two decades of experience in the financial markets, I find this development between BitBoy Crypto (Ben Armstrong) and Binance intriguing. Having witnessed numerous cases where personalities in the crypto space have faced legal scrutiny due to promotional activities, it’s not entirely surprising to see such a lawsuit emerge.
As an analyst, I’m reporting that Ben Armstrong, known by his online persona “BitBoy Crypto,” has consented to a resolution in a lawsuit linked to Binance. Notably, NBA star Jimmy Butler is also implicated in this settlement, agreeing to pay a total of $340,000 as part of the terms.
The BitBoy and Binance Deal
As of now, the court hasn’t given its seal of approval on the settlement agreement, a point highlighted in a Bloomberg report. This dispute originated back in March 2023 when some disgruntled investors leveled accusations against BitBoy and Jimmy Butler, alleging they illegally endorsed Binance as a trading platform.
In spite of the ongoing legal issues with Binance, the trading platform continues to thrive in its day-to-day business activities. Previously mentioned, Binance declared their intention to delete nine cryptocurrency trading pairs as part of an internal reorganization process.
This story is developing, please check back for updates!!!
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2024-08-21 22:13