Cristiano Ronaldo faces $1 billion class action lawsuit over Binance promotion

Cristiano Ronaldo’s face U.S. class action lawsuit This could ultimately see him fined nearly $1 billion for his advertising ties to cryptocurrency giant Binance.

According to the BBC, which broke the case, the class action lawsuit accuses Ronaldo Causing losses and failing to comply with U.S. law

Transparency of promotion revenue.

The Portuguese footballer moved to Saudi Arabia in early 2023 when he was signed by Saudi club Al-Nassr. one of the most influential people in the world. In addition to being one of the most recognized footballers on the planet, the Portuguese promotes a range of products and services through his social networks.

money laundering

In November 2022, Binance announced that it would cooperate with Ronaldo to launch the first “CR7” NFT (non-fungible token) series.The Portuguese promotes it on his social networks Invest in NFT digital assetsone ad link can now cost you over $1 billion.

Cryptocurrency giant Binance has been convicted of assisting terrorists in laundering money.Just a week ago, the company’s boss, Changpeng Zhao (known as “CZ”), resigned as CEO After agreeing to pay a record fine of more than $4 billion.

The founder of the world’s largest cryptocurrency exchange Binance pleads guilty to serious crimes No measures were taken to prevent money laundering.