![]() ![]() ![]() ![]() Most recently, on X (the platform formerly known as Twitter) Ronaldo reposted a Binance video and wrote that he was “Cooking something up” with the crypto exchange on Tuesday.Protect your site with the world’s most trusted TLS/SSL certificates. Ronaldo has continued to promote Binance on his official website and social media platforms. He now plays for the Saudi Arabian professional team Al Nassr. He leads his home country Portugal’s national team and has played for the Spanish team Real Madrid, the Italian club Juventus and Manchester United in England. Ronaldo is one of the most recognizable and wealthiest athletes in the world. The suit argued that the celebrities’ status made them culpable for promoting FTX’s failed business model. Last year, for example, a host of Hollywood and sports stars - including Larry David and Tom Brady - were named as defendants in a class-action suit against FTX, which was the second-largest crypto exchange before it collapsed in November 2022. This week’s lawsuit against Ronaldo isn’t the first time that a celebrity has faced litigation over crypto promotions. ![]() The crypto exchange agreed last week to pay a roughly $4 billion settlement and its founder Changpeng Zhao stepped down as CEO and pleaded guilty to a felony related to his failure to prevent money laundering on the platform. securities laws in a lawsuit from regulators. Over the summer, Binance was accused of operating as an unregistered securities exchange and violating a slew of U.S. NFTs enjoyed a brief boom, but have since largely collapsed in value as the crypto industry has been marred by scandals and market meltdowns. NFTs are ordinary digital images with an attached version number that have been added to a cryptocurrency blockchain, a process designed to make them “unique” collectibles. ![]()
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