Jimmy Butler named in $1 billion lawsuit for promoting unregistered securities

As Jimmy Butler fights to secure a spot in the play-in tournament with the Miami Heat, he must also handle a $1 billion lawsuit for illegally promoting Binance, an online exchange that allows users to trade cryptocurrencies.

Last Friday, Binance received a class action suit from the Moskowitz Law Firm and Boies Schiller Flexner due to the online exchange trading away unregistered secrurities.

Jimmy Butler, being a paid influencer by Binance, is among the involved parties named in $1 billion lawsuit

Timing of Jimmy Butler's lawsuit

With only four games remaining in the season for the Miami Heat, the timing of Jimmy Butler's lawsuit could not have come at a much worse time for the six-time All-Star.

The Heat (41-37) are seventh in the Eastern Conference standings with the possibility of a head-to-head matchup between either the Boston Celtics (54-24) or the Milwaukee Bucks (56-22) if they are in the play-in tournament and get out of it. With as big of an outside distraction as a $1 billion lawsuit, it will be interesting to see how things develop for Butler and the Heat moving forward after this issue.