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The lawsuit, filed in federal court in the Southern District of Florida Monday, accuses Ronaldo's promotions of Binance of being “deceptive and unlawful.” Binance's partnership with high-profile figures like Ronaldo, the plaintiffs claim, caused them to make costly and unsafe investments

Cristiano Ronaldo faces $1B class-action lawsuit for promoting for Binance NFTs

Portuguese soccer star Cristiano Ronaldo has been hit with a billion dollar class-action lawsuit over his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance

By AP News
Published - Nov 30, 2023, 10:48 AM ET
Last Updated - Aug 29, 2024, 12:37 AM EDT

NEW YORK (AP) — Portuguese soccer star Cristiano Ronaldo has been hit with class-action lawsuit seeking at least $1 billion in damages for his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance.  

The lawsuit, filed in federal court in the Southern District of Florida Monday, accuses Ronaldo's promotions of Binance of being “deceptive and unlawful.” Binance's partnership with high-profile figures like Ronaldo, the plaintiffs claim, caused them to make costly and unsafe investments. 

“Evidence now reveals that Binance’s fraud was only able to reach such heights through the offer and sale of unregistered securities, with the willing help and assistance of some of the wealthiest, powerful and recognized organizations and celebrities across the globe—just like Defendant Ronaldo,” the suit reads. 

Representatives for Ronaldo and Binance, the world's largest cryptocurrency exchange, did not immediately return The Associated Press' requests for comment. 

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