The plaintiff claims the footballer’s star endorsements led them to make loss-making investments. They are seeking $1 billion in compensation.
Footballer Cristiano Ronaldo faced legal trouble in the US after his association with Binance, reported by BBC.
Binance, the cryptocurrency exchange signed the star footballer, and he has been the face of many ad campaigns.
The plaintiff claims the footballer’s star endorsements led him to make loss-making investments. They are seeking $ 1 billion in compensation.
In November 2022, Binance announced its first "CR7" collection of non-fungible tokens (NFTs) in partnership with Ronaldo, which the footballer said would reward fans "for all the years of support".
According to US law, celebrities must disclose to the public from whom and how much they are getting paid to promote investment in securities.
The claimants allege Ronaldo should have disclosed how much he was being paid but did not.
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