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Ronaldo Sued For $1B In Latest Fallout From Athlete Crypto Deals

Dec 1, 2023

Legal ramifications from cryptocurrency endorsements has hit another A-list athlete. Soccer superstar Cristiano Ronaldo is facing a $1 billion class-action lawsuit stemming from his involvement with embattled exchange Binance.

The federal suit filed in the Southern District of Florida alleges that Ronaldo’s promotion was “deceptive and unlawful,” and that his association with Binance led plaintiffs into 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 in part.

Source: Front Office Sports

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