Cristiano Ronaldo is facing a $1 billion lawsuit for his role in promoting non-fungible tokens known as NFTs, linked to cryptocurrencies.
The lawsuit alleges that Ronaldo's promotion of Binance - the global company that operates the largest cryptocurrency exchange - was "fraudulent and illegal". Binance's partnership with high-profile figures like Ronaldo, the plaintiffs allege, led them to make costly and unsafe investments.
Through marketing partnerships, Ronaldo encouraged millions of his fans and supporters to invest with Binance, even though many of them had no knowledge of cryptocurrencies or the platform.
As a result, fans thought the investments were safe. In the end, they lost money, the lawsuit says.
Binance and Ronaldo have not commented on the lawsuit.
