Cristiano Ronaldo faces lawsuit over promotion of Binance
As if news of Binance‘s former CEO Changpeng Zhao resigning and facing criminal charges wasn’t enough, football superstar Cristiano Ronaldo is being sued in Florida for advertising this platform. According to the lawsuit , Michael Sizemore, Mikey Vongdara, and Gordon Lewis allege they experienced financial losses due to Ronaldo’s promotion of the exchange. The platform is accused of failing to implement adequate anti-money laundering measures. Additionally, the exchange is currently facing a demand from US authorities to pay $4.3 billion in settlements. Charges consist of “ promotion , assisting, and/or actively participating in the offer and sale of unregistered securities in coordination with Binance.“ Partnership between Ronaldo and Binance In 2022, the football player established a long-term collaboration with the exchange. Under the partnership, Ronaldo was to endorse a set of his non-fungible tokens (NFT). Cryptocurrency Bybit reaches 20 million ac...