Cristiano Ronaldo Binance Lawsuit Intensifies As The Superstar Sued For $1B

Key Points:

• Cristiano Ronaldo is facing a $1 billion class-action lawsuit over his endorsement of Binance, alleging his active participation in the sale of unregistered securities.
• Ronaldo partnered with Binance in 2022 for an exclusive NFT collection, aiming to attract investors to Binance’s crypto-related securities.

Cristiano Ronaldo Binance lawsuit update: the professional soccer player who is widely regarded as the greatest player of his generation, faces a $1B lawsuit over endorsing Binance. 

According to Crypto Town Hall, Cristiano Ronaldo is facing a $1 billion class-action lawsuit over his endorsement of Binance. The lawsuit alleges that Ronaldo actively participated in the sale of unregistered securities in coordination with Binance.

The lead plaintiff claims to have been influenced by Ronaldo’s promotion of Binance and suffered financial losses as a result. Ronaldo partnered with Binance in 2022 for an exclusive NFT collection.

The partnership involved Ronaldo providing spokesperson and marketing services for Binance, including promoting the NFT collection on social media and appearing in advertisements.

Cristiano Ronaldo Binance Lawsuit Gains Intensity

The promotional efforts of Ronaldo and Binance were highly successful, with the NFT collection selling out within the first week and generating increased online searches for NFT-related terms.

The lawsuit argues that Ronaldo’s promotion of the NFT collection inherently promoted unregistered tokens and securities offered by Binance, such as BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI.

The partnership between Ronaldo and Binance was also announced on their social media platforms, further enhancing its visibility.

In addition to the initial NFT collection, Ronaldo and Binance released a second NFT collection called ForeverCR7: The GOAT, which celebrated Ronaldo’s status as the highest goal scorer of all time.

The partnership continued with the announcement of Ronaldo’s third exclusive NFT collection, the CR7 Forever Zone, which included various surprises and a chance to train with Ronaldo in person.

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