Cristiano Ronaldo faces $1b lawsuit over Binance ads

Football legend Cristiano Ronaldo finds himself at the center of a gripping legal saga—a class-action lawsuit that adds a dramatic twist to his star-studded narrative. Allegations by the plaintiffs, Michael Sizemore, Mikey Vongdara, and Gordon Lewis, paint a vivid picture of financial losses incurred due to Ronaldo's endorsement of the trading platform. The legal document declares, Plaintiffs file this Complaint on behalf of themselves and all other similarly situated consumers who purchased unregistered securities offered or sold by Binance, against Defendant Cristiano Ronaldo, who played a pivotal role in the promotion, assistance, and/or active participation in the offer and sale of unregistered securities in collaboration with Binance.

The plot thickens as the filing asserts, "Binance's collaboration with celebrities such as Ronaldo was evidently crafted to leverage the positive reputation associated with specific icons, luring consumers into believing that Binance was a secure haven for cryptocurrency transactions." In this legal drama, the intersection of sports stardom and financial intricacies unfolds, leaving fans and investors on the edge of their seats.