Miami Heat’s Jimmy Butler Resolves Claims by Binance Investors

Miami Heat basketball star Jimmy Butler and YouTube influencer Ben Armstrong agreed to pay a combined $340,000 to resolve claims that they helped dupe Binance Holdings Ltd. customers into buying unregistered securities.

Lawyers for the customers asked a federal judge in Miami on Monday to give preliminary approval to the settlement, which came after months of talks aided by a mediator. The buyers of the Binance securities would then be given the opportunity to object to the agreement at a hearing before the judge signs off on the deal.

The suit was filed last year against Butler and Armstrong, who ...