Posted 11/29/2023, 7:19:14 PM
Ronaldo Faces $1B Lawsuit Over Promotion of Crypto Exchange and NFT Project
- Cristiano Ronaldo is facing a $1B class action lawsuit in the US over his promotion of crypto exchange Binance and his CR7 NFT project
- The lawsuit alleges Ronaldo's endorsement led people to lose money investing in "unregistered securities" on Binance
- The lawsuit claims Ronaldo did not properly disclose he was being paid for promotions as required by the SEC
- Ronaldo teased a new project with Binance just a day before the lawsuit was filed
- The cheapest NFT from Ronaldo's collection dropped from $77 at launch to $1 a year later