The Portugal skipper is being demanded to cough up at least $1 billion in compensation for endorsing cryptocurrency-related “non-fungible tokens,” or NFTs, which were issued by Binance.
The lawsuit was lodged in federal court in the Southern District of Florida on Monday.
It accuses Ronaldo’s endorsement of Binance of being “dishonest and illegal.”
The plaintiffs allege Binance’s collaboration with high-profile personalities like Ronaldo lured them into pricey and risky investments.
“Evidence now shows that Binance’s scam was only able to soar so high through the offer and sale of unregistered securities, with the eager help and support of some of the richest, influential, and famous organisations and celebrities around the world—just like Defendant Ronaldo,” the suit says.
