New details have emerged in the case of the legal confrontation between Portuguese football player Cristiano Ronaldo and a group of Binance clients. It became known that the amount of claims according to the claim exceeds $1 billion.
On November 28, 2023, a group of three people filed a lawsuit in Florida District Court against Cristiano Ronaldo. The applicants believe that they suffered significant losses due to the athlete’s promotion of the Binance cryptocurrency exchange.
The lawsuit states that the athlete promoted the company and participated in the offer and sale of unregistered securities in close coordination with the exchange.
Cristiano Ronaldo is also accused of making false statements and concealing the amount received from the Binance exchange. According to the applicants, the athlete should have disclosed this data in accordance with US laws.
The plaintiffs also indicated that Ronaldo and Binance knew that the advertising campaign was aimed at consumers unfamiliar with cryptocurrency. This was reflected in the amount of losses, they believe.
The Portuguese footballer signed a multi-year contract with the Binance exchange in June 2022. At the same time, he announced the release of a thematic NFT collection.
In September 2023, the athlete admitted that he owns non-fungible tokens and plans to release even more NFTs.
Source: Cryptocurrency
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