Ronaldo Faces $1B Lawsuit Over Crypto Promotions Without Proper Disclosures
• Soccer star Cristiano Ronaldo faces $1 billion class action lawsuit for promoting Binance crypto exchange and selling NFTs that led to investor losses • Lawsuit accuses Ronaldo of making deceptive statements and not disclosing compensation from Binance as required by law • Ronaldo still promoting Binance despite lawsuit and recent $4 billion in fines against the company • Binance founder Zhao stepping down as CEO, paying $200M fine, after investigation found platform enabled illicit transactions • Lawsuit part of trend of celebrities like Kim Kardashian and Tom Brady facing legal action for crypto promotions without proper disclosures