Cristiano Ronaldo sued in US for promoting Binance NFT: Report

Football star Cristiano Ronaldo is facing a class-action lawsuit. According to the reports the plaintiffs, Michael Sizemore, Mikey Vongdara, and Gordon Lewis and claimed that they suffered losses because Cristiano Ronaldo promoted the exchange. The lawsuit filing stated,"Plaintiffs file this Complaint on behalf of themselves, and allCristiano Ronaldo other similarly situated consumers who purchased unregistered securities offered or sold by Binance. Binance’s partnership with celebrities like Ronaldo was clearly designed to use the positive reputation associated with specific celebrities to convince consumers that Binance was a safe place to buy and sell cryptocurrency. In or around mid-2022, Cristiano Ronaldo entered into a multi-year partnership with Binance in which Ronaldo would provide Binance with spokesperson and marketing services. Those services included posting on social media, promoting his Binance exclusive NFT collection (Ronaldo’s first ever NFT collection)24, and appearing in commercial advertising, among other activities.