Cristiano Ronaldo is in hot water as he faces a $1 billion class action lawsuit in the US over his promotion of Binance, the world’s largest cryptocurrency exchange.
The plaintiffs argue that Ronaldo’s endorsement led them to make losing investments, seeking damages exceeding $1 billion.
Ronaldo and Binance, accused of helping users bypass sanctions and facing a $4.3 billion penalty, are reportedly planning future collaborations.
This legal saga underscores the challenges in the evolving financial landscape, with critics calling for clearer regulations from global authorities.
The broader issue extends beyond Ronaldo, highlighting the need for comprehensive guidelines in this complex space. Stay tuned for updates as this story unfolds. Credit to BBC for the original report.
https://www.bbc.com/news/technology-67566602