Cristiano Ronaldo sued over Binance promotion
Key Takeaways
- Cristiano Ronaldo was accused of promoting Binance for allegedly helping sell unregistered securities.
- The lawsuit highlights Ronaldo’s impact on Binance’s popularity and questions his compliance with SEC guidelines.
- Binance is facing its own legal challenges, including a $4.3 billion settlement with the U.S. government and an ongoing SEC investigation.
famous professional soccer player Cristiano Ronaldo is Following class action lawsuit, legal battle begins.
The lawsuit, filed on November 27, blames Ronaldo. Contribute to the promotion and sale of unregistered securities Cooperation with cryptocurrency exchange Binance.
Did you know?
Do you want to become smarter and richer with cryptocurrency?
Subscribe – We post new cryptocurrency explainer videos every week!
The documents filed in the U.S. District Court for the District of Florida allege: Ronaldo played an important role in promoting Binance.. The partnership, formed in mid-2022, includes: Ronaldo is promoting a series of non-fungible tokens (NFTs) linked to Binance..
The plaintiff claims that Ronaldo’s promotions drove users. Not only do you buy NFTs, but also Use Binance for other transactions, including what it claims are unregistered securities. These include: Investing in BNB (BNB), Binance’s native cryptocurrencyand Cryptocurrency Profit Program.
this week, according to the lawsuit. After the first sale of Ronaldo’s NFT, searches on Binance surged 500%.Highlights the success of the promotion.
The suit also claims Ronaldo took into account his investment experience and access to resources. You should have been aware of Binance’s activities related to unregistered cryptocurrency securities.. It also highlights guidance from the U.S. Securities and Exchange Commission (SEC). Celebrities must disclose their payments The plaintiff promoted cryptocurrency, claiming that Ronaldo had failed.
meantime, Binance and its founder Changpeng “CZ” Zhao are struggling with their own legal issues.. they recently Pleaded guilty and reached a $4.3 billion settlement with the U.S. DOJ These are charges of violating the Anti-Money Laundering Act and operating an unregistered money remittance business.
Following these developments, CEO Zhao resigns and Can face up to 18 months in prison. Moreover, earlier this year, The SEC sued Binance on several charges.It is known that the possibility of misappropriation of customer funds, including the sale of unregistered securities, is also being investigated.
Cristiano Ronaldo’s participation in Binance promotions has created a complicated legal situation. As the lawsuit progresses, it further highlights the investigative and regulatory challenges facing the cryptocurrency industry, particularly as it relates to celebrity endorsements and the sale of unregistered securities.
Gile is a market sentiment analyst who understands which public events create which emotions. Her experience investigating Web3 news and public market messaging, including cryptocurrency news reporting, PR, and social network streams, will be invaluable to her role leading the cryptocurrency news editorial team.
As an intelligent expert in the field of Public Relations, she works with her team to identify real VS fake news patterns and aims to provide her results to everyone searching for unbiased news and events happening in the FinTech market. Her expertise is in informing the public of the latest reliable and informative Web3 announcements.
When she’s not investigating the credibility of mainstream stories, she spends her time enjoying the terrace views and meticulously maintaining her outdoor environment.
