Cristiano Ronaldo faces $1B class-action lawsuit for promoting for Binance NFTs

NEW YORK (AP) — Portuguese soccer star Cristiano Ronaldo has been hit with a billion dollar class-action lawsuit over his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance. The lawsuit, filed in federal court in the Southern District of Florida Monday, accuses Ronaldo’s promotions of Binance of being “deceptive and unlawful.” Binance’s partnership with high-profile figures like Ronaldo, the plaintiffs claim, caused them to make costly and unsafe investments. Ronaldo launched his inaugural NFT “CR7” collection with Binance back in November 2022. Representatives for Ronaldo and Binance, the world’s largest cryptocurrency exchange, did not immediately return The Associated Press’ requests for comment.