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The lawsuit blames Binance and its affiliates for illegally promoting unregistered securities and also engaging in the activities of BNB burn.
NBA Miami Heat star Jimmy Butler was among the celebrity backers sued along with the crypto exchange
Only 4 days after the CFTC brought a highly-publicized suit against Binance, another massive legal problem is facing the exchange.
The law firm also plans to rope more Binance influencers to the suit in future filings.
Binance, one of the world's largest cryptocurrency exchanges, is facing a $1 billion lawsuit. The lawsuit accuses the exchange of promoting unregistered securities and paying influencers to do the same.