đšđ„ Cristiano Ronaldo in the spotlight with a $1 billion lawsuit! The football giant is facing a lawsuit that could shake up the cryptocurrency world!
Football superstar Cristiano Ronaldo is now at the center of a colossal legal storm with a $1 billion lawsuit filed against him over his collaboration with Binance. The partnership, which was supposed to propel the NFT market and attract new investors, has taken an unexpected turn.
In May 2024, a U.S. court rejected Ronaldoâs request to dismiss the lawsuit. The lawsuit, filed in November 2023, accuses Ronaldo of inducing his followers to invest in unregistered securities through Binance, which allegedly resulted in significant losses. The lawsuit also claims that Ronaldoâs endorsement led to a 500% increase in searches on Binance.
On May 29, 2023, Ronaldo, known as CR7, collaborated with Binance to launch the âForever Worldwide: The Road to Saudi Arabiaâ collection on Binanceâs NFT marketplace. The project, featuring seven unique NFTs, celebrated Ronaldoâs career across multiple cities and countries, with rewards for collectors based on the number of NFTs held.
In October 2023, Ronaldo and Binance launched the CR7 ForeverZone collection, featuring 50,000 limited-edition mystery boxes and a âCollect to Earnâ system to reward NFT collectors.
Despite these successes, the partnership between Ronaldo and Binance is now tarnished by this legal battle. Stay tuned for further developments in this case!
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