Cristiano Ronaldo sued in US for promoting Binance NFT: Report
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 all other similarly situated consumers who purchased unregistered securities offered or sold by Binance, 1 against Defendant, Cristiano Ronaldo, who promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in coordination with Binance. It further added,"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. Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry.
Zhao stepped down as CEO of Binance -- the largest crypto exchange in the world -- after he and the company pleaded guilty on Tuesday to sweeping US money laundering violations and agreed to fines of more than $4 billion. Here are two of the highest-profile crypto executives who have fallen foul of the law since last year: Born in China in 1977, Zhao
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