Cristiano Ronaldo has been implicated in a class-action lawsuit that alleges he played a role in ‘promoting unregistered securities’ in connection with his NFT arrangement with the cryptocurrency exchange Binance.This development occurred concurrently with the endorsement of the legally contested platform by the Al-Nassr star on X.

• Born on February 5, 1985, in the picturesque city of Funchal, Madeira, Cristiano Ronaldo stands as an iconic figure in the annals of football history. Renowned for his extraordinary talents, athleticism, and goal-scoring prowess, Ronaldo has etched an indomitable legacy in the realm of the beautiful game.

• His odyssey from a promising talent in Madeira to a global phenomenon is a testament to resilience, talent, and an unwavering commitment to excellence. Laden with individual accolades and collective triumphs, Ronaldo’s career is a tapestry woven with dedication, fervor, and an unyielding pursuit of perfection on the hallowed grounds. This introduction merely hints at the captivating narrative of Cristiano Ronaldo, a football luminary whose influence transcends the boundaries of the field.

• Cristiano Ronaldo finds himself entangled in a legal quagmire, as he emerges as a prominent figure in a class-action complaint initiated on behalf of users of the cryptocurrency exchange platform, Binance.

• The Al-Nassr luminary inked a sponsorship agreement with Binance in June 2022, a move that raised eyebrows, especially considering the Financial Conduct Authority’s prior classification of the exchange as a ‘significant risk’ to consumers. Subsequently, Ronaldo ventured into the realm of non-fungible tokens (NFTs) under the aegis of Binance.

• Upon the release of these NFTs in November of the same year, fans expressed discontent, criticizing the football star for extending an invitation to fans to ‘join his Web3 community.’ One disgruntled fan even questioned if Ronaldo’s reputation could plummet any further.

• As of November 28, Ronaldo maintains an active partnership with Binance. However, the lawsuit’s plaintiffs assert that the five-time Ballon d’Or winner’s affiliation with Binance constitutes his involvement in the ‘mass solicitation of investments in unregistered securities.’

• The legal complaint, filed on Tuesday to the United States District Court, Southern District of Florida in Miami, contends that Ronaldo actively promoted, assisted, and participated in the offer and sale of unregistered securities in collaboration with Binance.