🚨💥 Class-Action Suit Against Cristiano Ronaldo for Promoting Binance NFT.
A class-action lawsuit has been filed against international football player Cristiano Ronaldo, claiming that investor losses resulted from his support of the cryptocurrency exchange Binance. Ronaldo is accused in the case of actively encouraging and taking part in the sale of unregistered securities on the Binance platform. The lawsuit was filed on November 27th in a Florida District Court.
Ronaldo signed a multi-year deal with Binance, a well-known cryptocurrency exchange, to promote his non-fungible token (NFT) collections. According to the lawsuit, this collaboration and Ronaldo's enormous popularity and reach lured unwary investors to Binance, where they were tricked into making unregistered securities investments.
Ronaldo and Binance collaborated to market a number of his non-fungible tokens (NFTs). These NFTs were connected to Binance's platform; they are digital collectibles that signify ownership of unique objects. The collaboration sought to exploit Ronaldo's enormous reach and popularity to draw new users to Binance.
