Portuguese football icon Cristiano Ronaldo is facing a lawsuit which accuses him of participating “in the offer and sale of unregistered securities in coordination with Binance.” One of Ronaldo’s latest social media posts suggests that he is still collaborating with the cryptocurrency exchange.
Ronaldo’s Coordination With Binance
The celebrity Portuguese footballer and one of the sport’s top earners, Cristiano Ronaldo, is being sued for his role in promoting and participating “in the offer and sale of unregistered securities in coordination with Binance.” The plaintiffs in the case are seeking damages in excess of $1 billion.
According to the plaintiffs, Ronaldo’s endorsement of Binance’s non-fungible token (NFT) collection convinced them to commit funds to what are now loss-generating investments. As reported by Bitcoin.com News in June 2022, the athlete’s partnership with Binance saw him not only market the NFTs but also encourage his followers to join his Web3 c
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