Cristiano Ronaldo faces $1 billion business lawsuit in US

12:07 noon

Portuguese Cristiano Ronaldo, In addition to being one of the best athletes in the world, he is also one of the people who makes the most money from non-sports issues, such as using his image in advertising campaigns and businesses that carry his brand.

According to the BBC, not long ago, the player was a member of the Saudi Al Nasser team and participated in the company’s advertising campaign binance cryptocurrency,

In the United States, people who suffered losses from this investment filed a class-action lawsuit seeking nearly $1 billion (trillion U.S. dollars) in financial damages.

These events occurred in 2022, when the adoption of cryptocurrencies brought into circulation a series of non-fungible tokens, or NFTs, as experts on the subject call them.Advertising of the year CR7 Looking at the numbers, its value dropped significantly, from $77 to just $1 in one year, resulting in huge losses for investors.

“We will change the world of NFTs and take football to the next level,” the Portuguese said in a promotional video.

In the lawsuit, those affected argued that the presence of CR7 in the ads caused searches for the cryptocurrency to be 500% higher than normal, which apparently caused its value to plummet in such a short period of time.

Cristiano is an athlete who invests his wealth in various ventures, some of which are related to his partner. Georgina Rodriguez Topics include jewelry, real estate, beauty clinics specializing in hair and the stock market, among others.

So far, the players or their representatives have not commented on the lawsuit or the amount of money those affected are seeking.