A guy no one in the US knows, playing a sport none of us in the US plays, is under fire. ⚽
Soccer superstar Cristiano Ronaldo is now dribbling through a legal minefield, facing a staggering $1 billion lawsuit over his promotion of Binance’s NFTs. The suit, filed in Florida, accuses Ronaldo of leading his massive fanbase into the world of unregistered crypto securities.
The plaintiffs’ attorney is playing hardball, arguing that new legal standards could make Ronaldo liable for promoting what might be unregistered securities.
Ronaldo’s foray into NFTs with Binance, launched last November, featured animated digital statues capturing iconic moments from his career. With prices ranging from $77 to $10,000, the collection was aimed at both crypto enthusiasts and soccer fans.
As the legal drama unfolds, Ronaldo’s move from the soccer pitch to the crypto market is proving to be a challenging game, with potential implications for other celebrities dabbling in crypto endorsements. 🥅