A lawsuit filed in federal court in the Southern District of Florida on Monday alleges that Ronaldo’s promotion of Binance was deceptive and illegal. The plaintiffs allege that Binance’s association with celebrities like Ronaldo led them to make costly and unsafe investments.
The evidence now shows that Binance’s fraud was only able to reach such heights through the offer and sale of unregistered securities, with the voluntary aid and assistance of some of the wealthiest, most influential and recognized organizations and celebrities around the world – like Defendant Ronaldo, the lawsuit states.
Representatives for Ronaldo declined to comment Thursday. Binance, the world’s largest cryptocurrency exchange, did not immediately respond to The Associated Press’ request for comment.
Ronaldo launched his inaugural NFT CR7 collection on Binance last November, ahead of the 2022 World Cup. Starting pricess on the NFT ranged from The store, which cost the equivalent of about $77,000 to $10,000, featured seven animated statues depicting Ronaldo at iconic moments in his life, from his goal from a bicycle kick to his childhood in Portugal. The lawsuit
Monday says Ronaldo’s promotional efforts to promote the partnership with Binance have been incredibly successful – claiming that online searches for the keyword Binance increased by 500% after the soccer star’s NFT announcement. NFT Premium Collectionto sue her. Last week, the cryptocurrency exchange agreed to pay about $4 billion, and its founder Changpeng Zhao stepped down as CEO and pleaded guilty to criminal charges related to his failure to prevent money laundering on the platform.
The lawsuit against Ronaldo, filed this week, is not the first time celebrities have faced litigation over cryptocurrency stocks. Last year, a number of Hollywood and sports stars, including Larry David 2
Ronaldo is one of the most recognizable and wealthy athletes in the world. He captains the national team of his country Portugal and has also played for Spanish team Real Madrid, Italian club Juventus and English club Manchester United. He is currently playing for Saudi Arabia’s professional team Al Nassr.