Cristiano Ronaldo Sued for $1 Billion over Binance Promotion

The lawsuit alleges the soccer star aided in the sale of unregistered securities, following Binance's $4 billion settlement with the federal government.

Cristiano Ronaldo, the world's highest paid athlete, is facing a $1 billion class action lawsuit from Binance customers for promoting the cryptocurrency exchange.
The lawsuit alleges Ronaldo 'participated in and aided' the sale of unregistered securities with Binance.
Ronaldo began partnering with Binance in 2022, creating NFT collections and posts on social media to his 849 million followers.
Binance was recently forced to pay over $4 billion in penalties and restitution after settling with the federal government for violating the Bank Secrecy Act.
The lawsuit against Ronaldo was filed less than a week after the settlement was announced.