Cristiano Ronaldo, a Portuguese-origin football star, recently curated a sense of frenzy within the world of cryptocurrencies following his endorsement of Binance, a globally leading digital asset exchange.
Many crypto investors and traders within the broader crypto markets blamed Ronaldo’s promotion of Binance for their losses.
Moreover, they alleged that the football star’s multi-year partnership with Binance to promote his NFT collections, along with his recent promotions, prompted an increase in investors’ losses orbiting around the sale of unregistered securities. Subsequently, Ronaldo was hit with a class-action lawsuit for $1 billion.
Furthermore, according to recent reports, the lawsuit was filed in a Florida District Court on Monday, November 27, accusing the football star of diligently partaking in activities revolving around the sale of unregistered securities.
Binance came into a partnership with Ronaldo somewhere around mid-2022, encouraging the sale and promotion of
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