Cristiano Ronaldo Faces US$1 Billion Lawsuit Over Binance Promotion

Football star Cristiano Ronaldo faces a class-action lawsuit in the US over his promotion of Binance, seeking damages over US$1 billion. Plaintiffs allege Ronaldo's endorsement led to loss-making investments. The lawsuit follows Binance's collaboration with Ronaldo on 'CR7' NFTs in November 2022. The SEC requires disclosure of compensation for endorsements. Separately, the US Justice Department demanded Binance pay $4.3 billion in penalties; CEO Changpeng Zhao resigned after admitting money-laundering violations. Other entities also face lawsuits over FTX promotion.

Football star Cristiano Ronaldo faces a class-action lawsuit in the US over his promotion of Binance, seeking damages over US$1 billion. Plaintiffs allege Ronaldo's endorsement led to loss-making investments. The lawsuit follows Binance's collaboration with Ronaldo on 'CR7' NFTs in November 2022. The SEC requires disclosure of compensation for endorsements. Separately, the US Justice Department demanded Binance pay $4.3 billion in penalties; CEO Changpeng Zhao resigned after admitting money-laundering violations. Other entities also face lawsuits over FTX promotion.

Football star Cristiano Ronaldo faces a class-action lawsuit in the US over his promotion of Binance, seeking damages over US$1 billion. Plaintiffs allege Ronaldo's endorsement led to loss-making investments. The lawsuit follows Binance's collaboration with Ronaldo on 'CR7' NFTs in November 2022. The SEC requires disclosure of compensation for endorsements. Separately, the US Justice Department demanded Binance pay $4.3 billion in penalties; CEO Changpeng Zhao resigned after admitting money-laundering violations. Other entities also face lawsuits over FTX promotion.

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