Cristiano Ronaldo faces $1 billion lawsuit over cryptocurrency exchange Binance

Many professional athletes and celebrities have been affected by jumping on the cryptocurrency bandwagon. Tom Brady faces some lawsuits and many others. Now, sounding like a football genius, Cristiano Ronaldo is next on the list.

According to the Associated Press, Ronaldo is officially facing a $1 billion lawsuit for promoting NFTs on cryptocurrency exchange Binance.

“Portuguese soccer star Cristiano Ronaldo is hit with a class-action lawsuit seeking at least $1 billion in damages for promoting cryptocurrency-related “non-fungible tokens” (NFTs), which are owned by the embattled crypto company Issued by Currency Corporation. Cryptocurrency exchange Binance“.

That’s quite a lot of dough. A lawsuit filed against Cristiano Ronaldo claims that his promotion of Binance was “deceptive and unlawful.” Therefore, the lawsuit points to Ronaldo as the main reason that may have “misled” cryptocurrency people into investing in exchanges and NFTs.

“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 help and assistance of some of the richest, most powerful and well-known organizations and celebrities in the world – literally. Like Defendant Ronaldo,’ the lawsuit reads.”

As of now, Cristiano Ronaldo and his representatives remain silent. Additionally, Binance has remained silent.

Hope you can resolve this issue soon. The end result of the NFT and cryptocurrency trading craze is heading south. Even so, many still hope that cryptocurrencies will become more important in the future. But now, Cristiano Ronaldo has to sort it out.