Cristiano Ronaldo is facing legal action over an advertisement for a cryptocurrency exchange
Steven Perez
Dailysports's expert
Cristiano Ronaldo has been accused of promoting the Binance cryptocurrency exchange, as reported by Coin Telegraph.
In a lawsuit filed in Florida on November 27, it is alleged that Ronaldo promoted, assisted, and/or actively participated in the sale of securities in collaboration with Binance. Last year, the cryptocurrency exchange entered into a multi-year partnership with Ronaldo to promote the footballer's NFTs.
"Ronaldo should have known that Binance was selling unregistered cryptocurrencies, given his investment experience and the vast resources available to him for consultation," the lawsuit states.
Recently, Binance admitted to violating anti-money laundering laws. The company's founder, Chinese citizen Changpeng Zhao, resigned as CEO of Binance, facing up to 18 months of imprisonment.
It's worth noting that Cristiano Ronaldo and Binance became partners in the NFT space in the summer of 2022. The Portuguese footballer gave interviews and underwent a lie detector test for the cryptocurrency exchange's advertising campaign.
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