Superstar soccer player Cristiano Ronaldo is currently entangled in a class-action lawsuit that alleges investor damages resulting from his endorsement of cryptocurrency exchange Binance. 

The lawsuit claims that Ronaldo’s collaboration with Binance to promote his non-fungible token (NFT) collections led unsuspecting investors to make unregistered securities investments. Ronaldo may have to settle the case for $750,000 to avoid a public trial.

Legal Experts Suggest Ronaldo Could Settle $1 Billion Lawsuit

As reported by Bitcoinist, Ronaldo signed a multi-year deal with Binance to endorse his NFT collections, which included unique digital artworks and experiences. The collaboration sparked significant interest among fans and collectors. 

However, the lawsuit, filed November 27 in Florida District Court, accuses Ronaldo of actively participating in selling what regulators have deemed “unregistered securities” facilitated by Binance’s platform.

According to the complaint, individuals who registered for Ronaldo’s NFTs were more likely to engage in other activities on Binance, including investing in what they believed to be unregistered securities, such as the BNB coin and its cryptocurrency yield schemes. 

The lawsuit claims that Ronaldo’s influential status and broad reach enticed unsuspecting investors to the exchange, where they were allegedly deceived into making unlawful investments.

Recent reports suggest that Ronaldo may have to settle the $1 billion lawsuit for $750,000 to avoid a public trial in th

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Author: Ronaldo Marquez

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