Cristiano Ronaldo sued for $1 billion by Binance customers over alleged involvement in unregistered securities sale
Binance customers are suing Cristiano Ronaldo for $1 billion in damages, alleging that he aided the sale of unregistered securities with the cryptocurrency exchange. Ronaldo partnered with Binance in 2022 to create NFT collections and promote the exchange to his massive social media following. Binance settled with the federal government for over $4 billion in penalties and restitution for violating the Bank Secrecy Act, and its founder stepped down as CEO. Ronaldo has been fined $4.5 million by the Italian Competition Authority for promoting Binance without disclosing that he was being paid, adding to the legal issues faced by celebrities promoting cryptocurrency projects.
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