Class-Action Lawsuit Against Cristiano Ronaldo
Cristiano Ronaldo, a Portuguese soccer player, is facing a class-action lawsuit of at least $1 billion for promoting NFTs issued by Binance, a troubled crypto exchange.
Details About Lawsuit
The lawsuit was filed on January 16 by users who lost money due to Ronaldo’s promotions. Users claim it’s difficult to reach Ronaldo, so they are pursuing legal action to seek justice. The main issue is Ronaldo’s current location in Saudi Arabia, making it hard for users to reach him through traditional means.
The controversy centers around Binance’s collaboration with Ronaldo to market his NFT collections. The legal claim argues that Ronaldo’s influence enticed investors into Binance, where they invested in unregistered securities.
Hot Take: Binance Controversy
The lawsuit against Ronaldo highlights the potential repercussions of celebrity endorsements for crypto projects. It sheds light on the responsibility that public figures have when endorsing investments that could potentially harm their fans and followers.
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